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Pension funds agitating for change at media giant

Tuesday, March 23, 2004 | 9:13 a.m.

LOS ANGELES -- Six of the country's largest and most influential public pension funds are asking for a meeting with directors of The Walt Disney Co., saying they fear for their investments and the company's future.

The investors, including the California Public Employees' Retirement System, the nation's largest pension fund, sent a letter to Disney Chairman George Mitchell on Monday requesting the meeting be scheduled immediately.

Mitchell later indicated his willingness to meet but didn't set a date.

"We remain deeply concerned that our investments and the future of this company are in jeopardy," the letter from the pension funds said. "In our view, such a meeting would send a necessary signal to the marketplace that the Disney board is willing to engage in a constructive dialogue regarding our mutual interests as fiduciaries and shareowner representatives."

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