From the Los Angeles Times:
Roy Edward Disney, the nephew of Walt Disney whose commitment to his uncle’s creative spirit prompted him to mount revolts that led to the unseating of two of the company’s chief executives and a revival of the studio’s legendary animation unit, died today. He was 79.
Disney, who had been battling stomach cancer, died at Hoag Memorial Hospital Presbyterian in Newport Beach, according to Clifford A. Miller, a spokesman for Disney’s company Shamrock Holdings.
Disney toiled for years in the shadow of his famous uncle and his father, Roy O. Disney, who behind the scenes ran the business side of the Walt Disney Co. for his brother. But the quiet man in the cardigan sweater would emerge as a forceful protector of family traditions.
“People always underestimated Roy,” said Peter Schneider, the former president of Walt Disney Feature Animation. “You underestimate Roy at your peril, as many people have learned.”
Disney devoted the first 20 years of his career to making nature films, among them “Pancho, A Dog of the Plains,” “The Owl That Didn’t Give A Hoot” and an Oscar-nominated short subject “Mysteries of the Deep.” After the death of Walt in 1966 and Roy’s father in 1971, the younger Disney was spurned in his efforts to take a larger role with the company. He finally quit in 1977, but remained on its board as a director, where he was largely a figurehead.
Adrift, Disney hooked up with lawyer Stanley Gold and became a successful financier, investing successfully in a wide variety of businesses that included broadcasting, soybeans and Israeli industrial concerns through Shamrock Holdings, a company named for one Disney’s racing sloops.
During the 1980s, Gold, Disney and Shamrock became one of the better-known corporate raiders, making unsuccessful hostile takeover bids for companies such as the Polaroid Corp. camera maker and the Wherehouse Entertainment chain of music stores. Its takeover of Central Soya, a soybean processor in Fort Wayne, Ind., would yield a sizable $170-million profit for Shamrock and its partners with its subsequent sale to an Italian agricultural concern. Through investments, Gold sought to free Disney of his financial dependence on the Disney company stock he inherited. Most were successful, although Shamrock stumbled on some, particularly a money-losing investment in sneaker maker L.A. Gear.
By 1984, Disney had grown increasingly frustrated with the Walt Disney Co., which he likened to a real estate company that happened to be in the movie business. The company had let its feature animation film business, once the cornerstone of the company, deteriorate. The company, Disney would later say, had lost its creative drive.
“I said to him, ‘Roy, I think you’ve reached a point where you need to get all the way in or all the way out,’ ” Gold said. “He said, ‘What does that mean?’ I said, ‘You either need to sell your shares in Disney and go independent, or you need to put up a fight and get rid of the managers and find real managers for this business.’ ”