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Previous: AMERICAN INDEPENDENT NETWORK INC, PRE 14A, 1999-10-15 |
Next: SOVEREIGN PARTNERS L P, SC 13G/A, 1999-10-15 |
<PAGE>
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_______________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of Earliest Event Reported) -October 15, 1999
_______________
THE WALT DISNEY COMPANY
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
DELAWARE 1-11605 95-4545390
--------- ---------
(State or other jurisdiction of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
500 South Buena Vista Street, Burbank, California 91521
(Address of principal executive offices) (Zip Code)
</TABLE>
(818) 560-1000
(Registrant's telephone number, including area code)
_______________
Not applicable
(Former name or address, if changed since last report)
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<PAGE>
Item 5. Other Events.
Attached is certain unaudited historical pro forma financial
information being utilized by The Walt Disney Company ("Disney"), a Delaware
corporation, in presentations relating to the proposed merger of Bingo
Acquisition Corp., a wholly owned subsidiary of Disney, and Infoseek Corporation
("Infoseek"), a Delaware corporation, and the issuance of go.com Common Stock in
connection therewith. A copy of such unaudited historical pro forma financial
information is attached as an exhibit hereto and is incorporated by reference
herein. The unaudited historical pro forma financial information should be read
in conjunction with the joint proxy statement/prospectus of Disney and Infoseek
filed on September 30, 1999.
Item 7. Financial Statements and Exhibits
(c) Exhibit.
99.1 Unaudited historical pro forma financial information.
2
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, The Walt Disney Company has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
THE WALT DISNEY COMPANY
By: /s/ Thomas O. Staggs
------------------------------
Name: Thomas O. Staggs
Title: Executive Vice-President
and Chief Financial Officer
Dated: October 15, 1999
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<PAGE>
EXHIBIT INDEX
Exhibit No. Description
- ----------- ----------------------------------------
99.1 Unaudited historical pro forma financial information.
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<PAGE>
EXHIBIT 99.1
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go.com Unaudited Pro Forma Worksheet
(in millions, except per share data)
<TABLE>
<CAPTION>
FY98
-------------------------------------------------------------------
Q1 Q2 Q3 Q4 Total
------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C>
Internet revenues
Media $ 24 $ 26 $ 27 $ 31 $ 108
Commerce 4 6 6 7 23
------- ------- ------- ------- -------
Total Internet revenues 28 32 33 38 131
Catalog revenues 75 42 36 39 192
------- ------- ------- ------- -------
Total revenues 103 74 69 77 323
Costs and expenses (114) (96) (90) (113) (413)
Depreciation and amortization (1) (236) (236) (237) (237) (946)
------- ------- ------- ------- -------
Total costs and expenses (350) (332) (327) (350) (1,359)
------- ------- ------- ------- -------
Operating loss (247) (258) (258) (273) (1,036)
Corporate and other activities (2) (1) (2) (2) (7)
Net interest expense - - - - -
------- ------- ------- ------- -------
Loss before taxes (249) (259) (260) (275) (1,043)
Income taxes 12 13 13 14 52
Minority interests - - - - -
------- ------- ------- ------- -------
Net loss $ (237) $ (246) $ (247) $ (261) $ (991)
======= ======== ======== ======== ========
<CAPTION>
FY99
------------------------------------------------------
Q1 Q2 Q3 YTD Total
-------- -------- -------- ---------
<S> <C> <C> <C> <C>
Internet revenues
Media $ 39 $ 35 $ 41 $ 115
Commerce 8 9 9 26
-------- -------- -------- ---------
Total Internet revenues 47 44 50 141
Catalog revenues 62 27 28 117
-------- -------- -------- ---------
Total revenues 109 71 78 258
Costs and expenses (133) (120) (120) (373)
Depreciation and amortization (1) (237) (237) (241) (715)
-------- -------- -------- ---------
Total costs and expenses (370) (357) (361) (1,088)
-------- -------- -------- ---------
Operating loss (261) (286) (283) (830)
Corporate and other activities (2) (2) (1) (5)
Net interest expense (1) (1) (2) (4)
-------- -------- -------- ---------
Loss before taxes (264) (289) (286) (839)
Income taxes 19 21 20 60
Minority interests 1 - - 1
-------- -------- -------- ---------
Net loss $ (244) $ (268) $ (266) $ (778)
======== ======== ======== =========
</TABLE>
(1) Including amortization of intangible assets.
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