WALT DISNEY - FOUR MEDIA GIANTS OPPOSE SEC PLAN

The Walt Disney Co., NBC Universal, and the recently split Viacom companies, Viacom Inc. and CBS Corp., have registered their opposition to a proposal by the SEC that would force them to disclose the compensation that they pay their leading nonexecutive employees, such as studio chiefs, producers and stars. While the SEC has said that its purpose is to apprise shareholders of the compensation being paid out by the companies they own, a letter to the SEC from the four entertainment giants said that they see no reason to disclose "the use of assets for employee compensation where the employees in question are not managerial officers who have a significant policy-making function."

11/04/2006