Disney chief Robert Iger acknowledged Wednesday that results for Disney's live-action movies in 2009 were "awful" and resulted in his decision to replace longtime Disney Studios president Dick Cook with Rich Ross. "The change we made at the studio was designed to improve the studios' fortunes creatively," Iger told the UBS investors conference in New York, adding, "My role for the company is to strengthen the long-term management." Iger implied that during the coming year, the studio will be regrouping. It will be releasing Disney/Pixar animated films and Marvel superhero movies, "and not much more than that." He indicated that he does not see the market for DVDs improving much either, noting that people are no longer converting their VHS collections to DVD as they once were. "That is a trend occurring regardless of the economy," he said. "We don't see it slowing down."

10/12/2009