Months of Talks End in New Contract for ABC's President

What You Should Have Read, May 9, 2008

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Months of Talks End in New Contract for ABC's President

The New York Times reports that the president of ABC, Stephen McPherson, signed to a new contract with Walt Disney Co., signaling confidence in the maverick executive's ability to deliver new hits to succeed workhorses like "Grey's Anatomy." The agreement, which was completed Thursday after months of negotiations, locks up one of Hollywood's most highly regarded creative developers for an unspecified number of years. Disney is relying on Mr. McPherson to lead ABC through a thicket of industry problems. Advertisers, already moving dollars from TV to the Internet, are coming under additional spending pressure due to the lagging economy.
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