Disney Studios Names Ross as Chairman

BURBANK. Calif. (TheStreet) -- Walt Disney (DIS Quote) has named Rich Ross, president of Disney Channels Worldwide, as chairman of its movie studios.

Ross will oversee worldwide production, distribution and marketing for Disney's film labels, including Walt Disney, Touchstone, Miramax and Pixar. He also will head Disney's theatrical and music groups.

Under Ross, the Disney Channel has launched some of the company's biggest franchises, from Hannah Montana and the Jonas Brothers to "High School Musical."

His appointment, effective immediately, follows the resignation about three weeks ago of Walt Disney Studios former chairman, Dick Cook, and after studios revenue has seen declines over 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 2009.

Disney has restructured its studio business significantly this year. On Friday, it said it planned to trim the annual production of its Miramax label to about three films from six to eight.

-- Reported by Joseph Woelfel in New York .

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