Disney is working on sequels for BԪַToy Story,BԪַ BԪַFrozenBԪַ and BԪַZootopia,BԪַ three huge hits as the entertainment powerhouse attempts to find its footing under newly returned CEO Bob Iger.
The Walt Disney Co. is undergoing a BԪַstrategic transformation,BԪַ Iger said on Wednesday. That includes 7,000 job cuts announced this week and a renewed focus on core brands and franchises.
Iger, who returned as CEO in November following a challenging two-year tenure by his handpicked successor, Bob Chapek, announced the plans for the new movies during DisneyBԪַs first-quarter earnings call on Wednesday.
Disney owns Star Wars, Marvel and Pixar. Its latest Marvel movie, BԪַAnt-Man and the Wasp: Quantumania,BԪַ opens on Feb. 17.
The Burbank, California, company said it wants to make sure that executives in charge of content creation have a prominent say in what movies, TV shows or other content to produce, as well as the marketing and distribution of those products.
BԪַToy StoryBԪַ is a long-time movie franchise for Disney. The original film, which was the first computer-animated feature film and the debut feature release from Pixar Animation Studios, came out in 1995. It received a Special Achievement Academy Award in 1996, as there was no best animated feature film category at the time.
The most recent sequel, BԪַToy Story 4BԪַ released in 2019 and won two animated film Oscars in 2020, becoming the first franchise to accomplish that. Predecessor BԪַToy Story 3BԪַ won the best animated feature Academy Award in 2011.
A prequel film, called BԪַLightyear,BԪַ was in theaters last year.
The original BԪַ Frozen BԪַ film released in 2013 and won the Academy Award for best animated feature film in 2014. The sequel, BԪַFrozen II,BԪַ was in theaters in 2019.
Disney made about $13 billion in worldwide box office in 2019, helped by a strong slate of movies that included BԪַToy Story 4,BԪַ BԪַFrozen II,BԪַ BԪַAvengers: EndgameBԪַ and others.
Unlike BԪַToy StoryBԪַ and BԪַFrozen,BԪַ BԪַZootopiaBԪַ has yet to have a sequel. The original movie came out in 2016 and won an Academy Award for best animated film in 2017.
By Michelle Chapman
THE ASSOCIATED PRESS
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