Disney Channels president Rich Ross named studio chair
The announcement puts Ross in charge of worldwide production, distribution, and marketing for all of the entertainment giant's film labels, including
His appointment takes effect immediately and follows Cook's resignation three weeks ago.
Disney's studio revenue has fallen in each of the last five quarters, sinking from $1.82 billion in the March quarter of 2008 to $1.26 billion in the quarter ended in June this year. The studio also posted a $12 million operating loss in the June quarter, down from a $97 million operating profit last year.
After blaming a consistent decline in the sales of DVDs, in May CEO Robert Iger called the studio out for having a weak slate. Among its recent misses have been the high-priced
The company has restructured its studio business significantly this year.
On Friday, Disney said it was trimming the annual production of its Miramax label to about three films from six to eight, while cutting 50 jobs and leaving 20 to staff the unit, mainly in
Disney agreed in February to distribute about six live-action films from
In August, Disney said it would buy
In a statement, Iger noted Ross' consistent successes across technology platforms, as well as "his astute marketing sensibility, his proven ability in working effectively with talent and his skill at navigating complex global markets."
Under Ross' tenure, the Disney Channel has launched some of the company's biggest franchises, from
Ross joined Disney in 1996 as a senior vice president of programming and production at Disney Channel, and was named the channel's president in April 2004. Prior to that, he helped launch FX Networks and from 1986 to 1993 he held senior positions at