MOVIES - Feb. 1, 1991

Memo That Rocked Hollywood: A private memo--giving an unusually candid look at Walt Disney Studios’ business strategies, written by studio chairman Jeffrey Katzenberg--was published in its entirety in Thursday’s issue of the trade paper Daily Variety. Katzenberg’s essay, which some have dubbed “The Memo That Rocked Hollywood,” was leaked to the press and surfaced in some reports on Wednesday. Daily Variety Editor Peter P. Pryor said that he decided to publish the full text over five pages because, in his 20 years at the paper, “This is the only instance I can recall where somebody has articulated this clearly the operating strategy for running a studio.” The memo questioned high budgets in a time of recession, high-concept projects and the Japanese investment in the movie business.