By walking away from Michael Moore's Fahrenheit 911, Disney is giving up
the distribution of a guaranteed blockbuster. Moore's Bowling For Columbine made over $100 million in
worldwide theatrical and home video sales with this latest film poised to topple that figure. The $21 million domestic
gross of Columbine should be shattered by Fahrenheit and at a cost of $6 million plus prints and
advertising ($30 million? $40?), Fahrenheit 911 would have been a guaranteed money maker.
Is this the proper way for a corporation to act? Do not the board of directors of Disney have a fiduciary duty to the shareholders? Haven't Disney's board and its chief, Michael Eisner, breached their fiduciary duty to said shareholders? A corporation's main task, as far as its shareholders are concerned, is to make money. By refusing to distribute this film, Eisner and the board of Disney are passing on guaranteed profit.
Earlier this month, Eisner defended Disney's refusal to distribute Moore's film by claiming that Disney was a non-partisan company and that they preferred not to get into a political debate in a presidential election year. Oh, right Mike. Makes sense because hell, who wants to see a political film during a heated election campaign that might just be the most important election in the history of the world?
If I were a Disney shareholder, I'd be livid.