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Widely considered the most successful entertainment enterprise in a decade, the Walt Disney Company, which once seemed to make money as effortlessly as Mickey Mouse waved his magic wand, does so no longer and has decided that it needs a change.

The makeover is already under way, engineered by Disney's chairman and chief executive, Michael D. Eisner, and its late president, Frank G. Wells, long before Mr. Wells's death in a helicopter accident this month.
Faced with a weak economy, declining profit growth, flops at the box office and troubles at its theme parks, notably the Euro Disneyland debacle in France, Disney needed a tuneup if it was to continue to sparkle.
"We were reinventing ourselves before Frank's death, but this tragedy has forced us to speed up the process," Mr. Eisner said in a recent interview at Disney's headquarters in Burbank. "I think you have to reinvent yourself almost every seven years or so, as businesses mature and situations change." Foreign Markets a Focus
Like other film studios and entertainment companies, Disney will focus on cultivating foreign markets, which represent the highest potential for growth, Mr. Eisner said. Reinventing Disney will also include exploring new technologies and expanding the responsibilities of the company's senior executives, many of whom will assume duties held by Mr. Wells, he continued.

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