The Movie Club, which was launched in the early 1990s by Sam’s Club, is now in its final days, having lost its parent company Disney and its parent companies the Walt Disney Company and the Walt Imagineering Group.
Disney is not expected to be able to recover from its financial losses.
At the end of this week, Disney announced that the Disney Media Networks (DMN) unit will be spun off, leaving the entire company with just the Disney Entertainment Group.
At least four of the five Disney divisions — Disney Home Entertainment, Disney Interactive, Disney Parks, and Disney Animation — are now effectively operating independently.
The news of the DMN spinoff was met with shock, as the original vision for the DMn network was to create a single, unified entity that would offer an array of live events.
The DMN was supposed to be the largest of the four Disney divisions, encompassing more than 2,500 events across all of Disney’s businesses, including its theme parks, resorts, and theme park attractions.
The original plan for the network was for it to encompass more than 1,000 events.
“The DMN is going to be one of the most valuable businesses for Disney,” said Tom Shriver, chairman and CEO of the Walt Family Fund.
“We believe that the DM n is one of our most valuable assets in the marketplace, and we believe that Disney is a strong leader in that space.
We look forward to working with them and working with the DM community, and will continue to build upon our partnership and continue to make progress on the network as it matures.”
The DMn is expected to close its doors in 2019, but Shriver said the company is still focused on getting the Disney theme parks back online and creating an integrated experience that would allow fans to experience the various live events on multiple platforms simultaneously.