Roy E. Disney, vice chairman of Walt Disney Co. stepped down from the board of directors and called on chairman/chief exec Michael Eisner to resign in a scathing letter.

On Sunday, Nov. 30, 2003, he sent a three-page letter to Eisner criticizing the chairman's leadership over the past seven years. Disney has called for Eisner's resignation in the past, but the idea was rejected by the board.

Following is the text of Roy Disney's Letter sent to Michael Eisner, asking him to resign:

Mr. Michael D. Eisner, Chairman
The Walt Disney Company
500 South Buena Vista Street
Burbank, CA 91521

Dear Michael,

It is with deep sadness and regret that I send you this letter of resignation from the Walt Disney Company, both as Chairman of the Feature Animation Division and as Vice Chairman of the Board of Directors.

The U.S. Congress, under Republican leadership, and the White House agreed late Nov. 24, 2003 in Washington DC to a new limit on the number of television stations one company can own, a compromise reached to help make way for approval of a massive spending bill that will keep the government running for a year.

CINAR Corp. will hold a special meeting of shareholders on Jan. 15, 2004 at the Omni Hotel in Montreal to obtain approval for a $143.9 million acquisition by an investor group comprised of former Nelvana execs Michael Hirsh and Toper Taylor with TD Capital Canadian Private Equity Partners.

Madrid’s Zinkia Ent. is busy signing up top creative talent to start production on its 3D CGI animated preschool property, POCOYÓ. The 52x7 series is being co-produced with Carlton International, for U.K. commercial broadcaster ITV.

Already on board is one of Spain’s leading 3D animation specialists, Magoga Piñas, who has joined the Pocoyó team. Magoga, has more than a decade of experience in the 3D animation field, working on feature films such as LA GRAN AVENTURA DE MORTADELO Y FILEMON (2003) as well as commercials and graphics.

Nasscom, India’s premier information technology body, is betting big on the Indian animation industry, predicting the sector is all set to register an exponential growth in the coming years, according to the BUSINESS STANDARD in a report from its bureau in Bangalore, India.

IDT Corp., a multinational carrier, telephone and technology company that has been showering investment capital based on animation companies has created IDT Entertainment Inc., a new business subsidiary, which will incorporate Digital Production Solutions (DPS), IDT’s existing animation company, DPS/Film Roman and its joint venture and equity interest with Vanguard Animation. Upon completion of its purchase of Mainframe Ent. in Vancouver, the CGI production house will also become part of IDT Entertainment.

Veteran industry executives Margaret Loesch and Bruce Stein have teamed to create The Hatchery, LLC, a new entertainment and marketing firm. Loesch, an Emmy Award-winning producer, was most recently president/ceo of Crown Media U.S./Hallmark Channel. Stein was formerly president/coo of Mattel Inc. Also a partner in the new production house is Emmy and Peabody Award-winning producer/writer Dan Angel.

The Writers Guild of America West (WGAw) and IATSE (The Animation Guild Local 839) have reached a tentative agreement regarding representation on DreamWorks’ upcoming animated series FATHER OF THE PRIDE, according to DAILY VARIETY.

On Thursday, October 30, 2003, U.S. Bankruptcy Judge John H. Squires approved Classic Media’s purchase of Big Idea Productions for $19.3 million. In August, Classic Media made public its plans to purchase the VEGGIE TALES producer for $7.5 million as the troubled firm filed for bankruptcy. As part of U.S. bankruptcy law, assets of Big Idea had to be put up for auction to allow the company’s creditors the best chance of recouping funds.