Michael Eisner

Michael Eisner (born March 7, 1942, Mount Kisco, New York, U.S.) American business and entertainment executive who was known for his role in reviving the fortunes of, successively, the television network ABC, the film studio Paramount Pictures, and the Disney Company.

Eisner grew up in a wealthy family and graduated from a private boarding school before studying English literature and theatre at Denison University (B.A., 1964). A summer job working as a page at TV network NBC led to his later employment at NBC logging the times that advertisements aired. Eisner then moved to the programming department of CBS, where he was in charge of the placement of ads in children’s shows. In 1966 Eisner was hired, through the good offices of Barry Diller, as an assistant to ABC’s national programming director, and he soon proved his worth, rising to become vice president for daytime programming by 1971 and senior vice president for prime time production and development in 1976. During this time Eisner was regarded as a driving force behind ABC’s rise from the bottom of the network rating ranks to the top.

In 1976 Diller, then chairman of Paramount’s board of directors, hired Eisner as president and chief operating officer of the movie studio. There he helped the company shift its emphasis from distribution to production, and he oversaw the studio’s production of such hit movies as Raiders of the Lost Ark (1981), Terms of Endearment (1983), and Footloose (1984). The company’s television wing also grew under Eisner, who helped to produce both Cheers (1982–93) and Family Ties (1982–89) as well as the syndicated newsmagazine Entertainment Tonight (1981– ).

Eisner was already a star entertainment executive when in 1984 he became chairman and CEO of what was then Walt Disney Productions. The company was struggling to maintain profits, and Eisner acted quickly to improve the situation. He began syndicating the company’s old movies and television shows; approved the production of such popular films as Down and Out in Beverly Hills (1986), The Color of Money (1986), and Pretty Woman (1990); and restored Disney’s reputation for classic animation with Beauty and the Beast (1991) and The Lion King (1994). He also expanded the company into fields such as television, publishing, home video, and cruise ship travel. Disney’s profits rebounded spectacularly, and Eisner himself became a symbol of the Disney brand. Eisner also oversaw Disney’s 1991 partnership with the computer-animation studio Pixar and its 1993 acquisition of the popular Miramax production company.

By the turn of the 21st century, however, Disney was no longer generating large profits, and there was widely publicized acrimony among the company’s executives and its board of directors. Some felt that overly aggressive marketing had diluted the Disney brand’s value. It was also reported that Eisner’s failure to groom anyone to succeed him as CEO was a growing problem. He was ousted as chairman in 2004 and stepped down as CEO the following year.

In 2005 Eisner founded the Tornante Company, a venture capital firm specializing in media and entertainment, and the following year he created a digital film studio, Vuguru. Eisner’s books included Work in Progress (1998; with Tony Schwartz) and Working Together: Why Great Partnerships Succeed (2010; with Aaron Cohen). Eisner was inducted into the Television Academy Hall of Fame in 2012.