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DIS » Topics » Changes in regulations applicable to our businesses may impair the profitability of our businesses.

This excerpt taken from the DIS 10-K filed Dec 2, 2009.

Changes in regulations applicable to our businesses may impair the profitability of our businesses.

Our broadcast networks and television stations are highly regulated, and each of our other businesses is subject to a variety of United States and overseas regulations. These regulations include:

 

  •  

United States FCC regulation of our television and radio networks, our national programming networks, and our owned television stations. See Item 1 – Business – Media Networks, Federal Regulation.

 

  •  

Environmental protection regulations.

 

  •  

Federal, state and foreign privacy and data protection laws and regulations.

 

  •  

Regulation of the safety of consumer products and theme park operations.

 

  •  

Imposition by foreign countries of trade restrictions or motion picture or television content requirements or quotas.

 

  •  

Domestic and international tax laws or currency controls.

Changes in any of these regulatory areas may require us to spend additional amounts to comply with the regulations, or may restrict our ability to offer products and services that are profitable.

This excerpt taken from the DIS 8-K filed Feb 3, 2009.

Changes in regulations applicable to our businesses may impair the profitability of our businesses.

Our broadcast networks and television stations are highly regulated, and each of our other businesses is subject to a variety of United States and overseas regulations. These regulations include:

 

  •  

United States FCC regulation of our television and radio networks, our national programming networks, and our owned television stations. See Item 1 — Business — Media Networks, Federal Regulation.

 

  •  

Environmental protection regulations.

 

  •  

Federal, state and foreign privacy and data protection laws and regulations.

 

  •  

Regulation of the safety of consumer products and theme park operations.

 

  •  

Imposition by foreign countries of trade restrictions or motion picture or television content requirements or quotas.

 

  •  

Domestic and international tax laws or currency controls.

Changes in any of these regulatory areas may require us to spend additional amounts to comply with the regulations, or may restrict our ability to offer products and services that are profitable.

These excerpts taken from the DIS 10-K filed Nov 20, 2008.

Changes in regulations applicable to our businesses may impair the profitability of our businesses.

Our broadcast networks and television stations are highly regulated, and each of our other businesses is subject to a variety of United States and overseas regulations. These regulations include:

 

  •  

United States FCC regulation of our television and radio networks, our national programming networks, and our owned television stations. See Item 1 – Business – Media Networks, Federal Regulation.

 

  •  

Environmental protection regulations.

 

  •  

Federal, state and foreign privacy and data protection laws and regulations.

 

  •  

Regulation of the safety of consumer products and theme park operations.

 

  •  

Imposition by foreign countries of trade restrictions or motion picture or television content requirements or quotas.

 

  •  

Domestic and international tax laws or currency controls.

Changes in any of these regulatory areas may require us to spend additional amounts to comply with the regulations, or may restrict our ability to offer products and services that are profitable.

Changes in regulations applicable to our businesses may impair the profitability of our businesses.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:5%">Our broadcast networks and television stations are highly regulated, and each of our other businesses is subject to a variety of United States and
overseas regulations. These regulations include:

 







 • 

United States FCC regulation of our television and radio networks, our national programming networks, and our owned television stations. See Item 1 –
Business – Media Networks, Federal Regulation.

 







 • 

Environmental protection regulations.

 







 • 

Federal, state and foreign privacy and data protection laws and regulations.

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 







 • 

Regulation of the safety of consumer products and theme park operations.

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 







 • 

Imposition by foreign countries of trade restrictions or motion picture or television content requirements or quotas.

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 







 • 

Domestic and international tax laws or currency controls.

FACE="Times New Roman" SIZE="2">Changes in any of these regulatory areas may require us to spend additional amounts to comply with the regulations, or may restrict our ability to offer products and services that are profitable.

STYLE="margin-top:12px;margin-bottom:0px">Labor disputes may disrupt our operations and adversely affect the profitability of any of our businesses.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:5%">A significant number of employees in various of our businesses are covered by collective bargaining agreements, including employees of our theme parks
and resorts as well as writers, directors, actors, production personnel and others employed in our media networks and studio operations. In addition, the employees of licensees who

 


21






Table of Contents



manufacture and retailers who sell our consumer products may be covered by labor agreements with their employers. In general, a labor dispute involving our
employees or the employees of our licensees or retailers who sell our consumer products may disrupt our operations and reduce our revenues, and resolution of disputes may increase our costs. The contract the Company and other producers had with the
Screen Actors Guild expired June 30, 2008 without agreement on terms for a new contract. There can be no assurance that a new agreement will be reached without a work stoppage, and any work stoppage could limit production and distribution of
films or result in limitations on production and airing of television programming, either of which could have a negative impact on revenues and profitability.

SIZE="2">Provisions in our corporate documents and Delaware state law could delay or prevent a change of control, even if that change would be beneficial to shareholders.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:5%">Our Restated Certificate of Incorporation contains a provision regulating the ability of shareholders to bring matters for action before annual and
special meetings and authorizes our Board of Directors to issue and set the terms of preferred stock. The regulations on shareholder action could make it more difficult for any person seeking to acquire control of the Company to obtain shareholder
approval of actions that would support this effort. The issuance of preferred stock could effectively dilute the interests of any person seeking control or otherwise make it more difficult to obtain control. In addition, we are subject to the
anti-takeover provisions of the Delaware General Corporation Law, which could have the effect of delaying or preventing a change of control in some circumstances.

SIZE="2">The seasonality of certain of our businesses could exacerbate negative impacts on our operations.

Each of our businesses
is normally subject to seasonal variations, as follows:

 







 • 

Revenues in our Media Networks segment are subject to seasonal advertising patterns and changes in viewership levels. In general, advertising revenues are somewhat
higher during the fall and somewhat lower during the summer months. Affiliate revenues are typically collected ratably throughout the year. Certain affiliate revenues at ESPN are deferred until annual programming commitments are met, and these
commitments are typically satisfied during the second half of the Company’s fiscal year, which generally results in higher revenue recognition during this period.

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 







 • 

Revenues in our Parks and Resorts segment fluctuate with changes in theme park attendance and resort occupancy resulting from the seasonal nature of vacation travel
and local entertainment excursions. Peak attendance and resort occupancy generally occur during the summer months when school vacations occur and during early-winter and spring-holiday periods.

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 







 • 

Revenues in our Studio Entertainment segment fluctuate due to the timing and performance of releases in the theatrical, home entertainment, and television markets.
Release dates are determined by several factors, including competition and the timing of vacation and holiday periods.

 







 • 

Revenues in our Consumer Products segment are influenced by seasonal consumer purchasing behavior and by the timing and performance of animated theatrical releases
and cable programming broadcasts.

Accordingly, if a short term negative impact on our business occurs during a time of
high seasonal demand (such as hurricane damage to our parks during the summer travel season), the effect could have a disproportionate effect on the results of that business for the year.

STYLE="margin-top:12px;margin-bottom:0px">ITEM 1B.  Unresolved Staff Comments

FACE="Times New Roman" SIZE="2">The Company has received no written comments regarding its periodic or current reports from the staff of the Securities and Exchange Commission that were issued 180 days or more preceding the end of its 2008 fiscal
year and that remain unresolved.

This excerpt taken from the DIS 10-K filed Nov 21, 2007.

Changes in regulations applicable to our businesses may impair the profitability of our businesses.

Our broadcast networks and television stations are highly regulated, and each of our other businesses is subject to a variety of United States and overseas regulations. These regulations include:

 

  •  

United States FCC regulation of our television and radio networks and owned stations, including licensing of stations, ownership limits, prohibitions on “indecent” programming and restrictions on commercial time in children’s programming and regulation of our broadcasting businesses in non-United States markets. Additional information regarding FCC regulation is provided in “Item 1 – Business – Media Networks, Federal Regulation.”

 

  •  

Environmental protection regulations.

 

  •  

Federal, state and foreign privacy and data protection laws and regulations.

 

  •  

Regulation of the safety of consumer products and theme park operations.

 

  •  

Imposition by foreign countries of trade restrictions or motion picture or television content requirements or quotas.

 

  •  

Domestic and international tax laws or currency controls.

Changes in any of these regulatory areas may require us to spend additional amounts to comply with the regulations, or may restrict our ability to offer products and services that are profitable.

This excerpt taken from the DIS 10-K filed Nov 22, 2006.

Changes in regulations applicable to our businesses may impair the profitability of our businesses.

Our broadcast networks and television stations are highly regulated, and each of our other businesses is subject to a variety of United States and overseas regulations. These regulations include:

 

  •   United States FCC regulation of our television and radio networks and owned stations, including licensing of stations, ownership limits, prohibitions on “indecent” programming and restrictions on commercial time in children’s programming and regulation of our broadcasting businesses in non-United States markets. Additional information regarding FCC regulation is provided in “Item 1 — Business — Media Networks, Federal Regulation.”

 

  •   Environmental protection regulations.

 

  •   Federal, state and foreign privacy and data protection laws and regulations.

 

  •   Regulation of the safety of consumer products and theme park operations.

 

  •   Imposition by foreign countries of trade restrictions or motion picture or television content requirements or quotas.

 

  •   Domestic and international tax laws or currency controls.

Changes in any of these regulatory areas may require us to spend additional amounts to comply with the regulations, or may restrict our ability to offer products and services that are profitable.

This excerpt taken from the DIS 10-K filed Dec 7, 2005.
Changes in regulations applicable to our businesses may impair the profitability of our businesses.

      Our broadcast networks and television stations are highly regulated, and each of our other businesses is subject to a variety of United States and overseas regulations. These regulations include:

  •  United States FCC regulation of our television and radio networks and owned stations, including licensing of stations, ownership limits, prohibitions on “indecent” programming and restrictions on commercial time in children’s programming and regulation of our broadcasting businesses in non-United States markets. Additional information regarding FCC regulation is provided in “Item 1 – Business – Media Networks, Federal Regulation.”
 
  •  Environmental protection regulations.
 
  •  Federal, state and foreign privacy and data protection laws and regulations.
 
  •  Regulation of the safety of consumer products and theme park operations.
 
  •  Imposition by foreign countries of trade restrictions or motion picture or television content requirements or quotas.
 
  •  Domestic and international tax laws or currency controls.

      Changes in any of these regulatory areas may require us to spend additional amounts to comply with the regulations, or may restrict our ability to offer products and services that are profitable.

-24-

 

EXCERPTS ON THIS PAGE:

10-K
Dec 2, 2009
8-K
Feb 3, 2009
10-K (2 sections)
Nov 20, 2008
10-K
Nov 21, 2007
10-K
Nov 22, 2006
10-K
Dec 7, 2005

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