Big Bird on the Big Screen!
From Entertainment, July 24th, 1985
Sesame Street has come to the big screen at last in
Follow That Bird!, released this weekend by Buena Vista Entertainment under the Walt Disney Pictures label in partnership with the Children’s Television Workshop. The delightful film follows Big Bird on a cross-country adventure, trying to make his way back to Sesame Street and away from the machinations of the dastardly quasi-social worker Miss Finch. It’s a fun time for adults and children alike and another tour de force from Jim Henson’s Muppets, who clearly have not lost their magic since joining Disney last year. Critics have been ebullient in their praise and the G-rated film had a good opening weekend and is expected to make a modest profit[1]. It is hoped that this won’t be the last foray into the big screen by our Sesame Street pals.
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Two Disney Board Members Retire
Wall Street Journal, July 26th, 1985
Long time Disney board members Philip Hawley and Samuel Williamson announced their retirement from the Disney Board of Directors earlier this week. Hawley, CEO of the Carter Hawley Hale retail store conglomerate, told WSJ that the retirement is necessary so that he can attend to his own company. The chain has recently been facing financial difficulty including a hostile takeover attempt, and two days ago announced the sale of its Walden Books subsidiary to K-mart in a “Crown Jewels” strategy to avoid buyout. Williamson, meanwhile, has cited a desire to spend more time with his family and his growing responsibilities at the law firm Hufstedler, Miller, Carson, & Beardsley. Both men will remain on the so-called Disney Advisory Board, a non-voting entity that offers ad hoc advice and consultation on issues of interest to the board. Current AB luminaries include former Chairmen Donn Tatum and E. Cardon Walker, Apple CEO Steve Jobs, and producer/directors Steven Spielberg and George Lucas.
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The Board of Directors for the Walt Disney Entertainment Company, Spring 1985:
Ray Watson, Chairman (former head of the Irvine Company)
Ronald “Ron” Miller, CEO
Frank Wells, President and COO
James M. “Jim” Henson, CCO, President, Walt Disney Studios, & Creative Director
Richard “Dick” Nunis, President, Disney Outdoor Entertainment
Roy E. Disney, Vice President, Walt Disney Animation Studios (head of Shamrock Holdings)
Al Gottesman (President, Henson Arts Holdings)
Dianne Disney Miller (Partner, Retlaw Enterprises)
Peter Dailey (former US ambassador to Ireland and Roy Disney’s brother-in-law)
Caroline Ahmanson (head and founder of Caroline Leonetti Ltd.; Chairman of the Federal Reserve Bank of San Francisco)
Charles Cobb (CEO of Arvida Corp.; representing the interests of Bass Brothers)
Alfred Attilio “Al” Checchi (representing Marriott International)
Advisory Board Members (non-voting, ad-hoc attendance):
E. Cardon “Card” Walker, Chairman Emeritus
Donn Tatum, Chairman Emeritus
Sid Bass (CEO of Bass Brothers Enterprises)
Steven Spielberg (Partner, Amblin Entertainment)
Steve Jobs (Chairman & President of Apple Computer, Inc.)
George Lucas (CEO of Lucasfilm, Ltd.)
J. Willard “Bill” Marriott, Jr. (CEO of Marriott International)
Philip Hawley (Carter Hawley Hale)
Samuel Williamson (senior partner, Hufstedler, Miller, Carson, & Beardsley)
The Disney Executive Committee:
Ronald “Ron” Miller, CEO
Frank Wells, President and COO
James M. “Jim” Henson, CCO and President, Walt Disney Studios
Richard “Dick” Nunis, President, Disney Recreation
Thomas “Tom” Wilhite, President, Hyperion Studios
Carl Bongirno, President, Walt Disney Imagineering Workshop
Roy E. Disney, Vice President, Walt Disney Animation Studios
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Stocks at a Glance: Walt Disney Entertainment (DIS)
July 26th, 1985
Stock price: $137.74
Major Shareholders: Henson family (19.2%), Roy E. Disney (13.4%), Disney-Miller family (12.2%), Sid Bass (9.6%), Bill Marriott (6.3%), Amblin Entertainment (1.3%), Apple Comp. (0.7%), Lucasfilm Ltd. (0.42%), Suspected “Knights Errant” (4.6%), Others (32%)
Outstanding shares: 37.6 million
[1]
Follow that Bird will make $24 million vs. a $9 million budget, a minor success. In our timeline it was released on August 2nd and thus went head-to-head with not just Back to the Future but with
The Black Cauldron and
Pee Wee’s Big Adventure. It only made $13.9 million against a budget that was higher than in this timeline and is considered a bomb. Here
Cauldron was released in late 1984 and
Follow that Bird will take its slot from our timeline, giving it a couple of extra weekends before
Pee Wee debuts.