DISNEY MEDIA DISTRIBUTION AND ACADEMY EXTEND OSCAR(R) TELECAST AGREEMENT

Disney Media Distribution and the Academy of Motion Picture Arts and Sciences have extended their agreement for DMD to distribute the annual Academy Awards(R) telecast internationally through 2020, Tom Sherak, Academy president and Anne Sweeney, president of the Disney/ABC Television Group, announced today. The previous agreement had been set to expire in 2014.

"Disney Media Distribution has been successful in securing distribution around the world for the Academy Awards, and we're thrilled to extend this partnership," said Sherak. "The Oscars are an international event beloved by a global audience. It's a testament to the magic of Hollywood."

"We are excited to be able to extend our agreement to deliver the world's biggest celebration of entertainment to audiences around the globe," said Sweeney. "We look forward to building on the foundation of our relationship with the Academy, and working together to reach new audiences on new platforms in the years ahead."

This past February, a worldwide audience of hundreds of millions experienced the Academy Awards in more than 225 international territories via a variety of both traditional broadcast outlets and new emerging video-on-demand and online streaming platforms.

In 2011 the Academy and the ABC Television Network signed a domestic rights agreement which also extended their contract through 2020.

Academy Awards for outstanding film achievements of 2012 will be presented on Sunday, February 24, 2013, at the Dolby Theatre(R) at Hollywood & Highland Center(R), and televised live on the ABC Television Network.

ABOUT THE ACADEMY

The Academy of Motion Picture Arts and Sciences is the world's preeminent movie-related organization, with a membership of more than 6,000 of the most accomplished men and women working in cinema. In addition to the annual Academy Awards - in which the members vote to select the nominees and winners - the Academy presents a diverse year-round slate of public programs, exhibitions and events; provides financial support to a wide range of other movie-related organizations and endeavors; acts as a neutral advocate in the advancement of motion picture technology; and, through its Margaret Herrick Library and Academy Film Archive, collects, preserves, restores and provides access to movies and items related to their history. Through these and other activities the Academy serves students, historians, the entertainment industry and people everywhere who love movies.

DISNEY MEDIA DISTRIBUTION / DISNEY/ABC TELEVISION GROUP

Disney Media Distribution (DMD) is responsible for the international distribution of The Walt Disney Company's branded and non-branded content to all platforms, encompassing television, broadband and mobile outlets. The division distributes more than 30,000 hours of programming to over 1,300 platform partners across 240 territories worldwide. DMD's content portfolio includes feature films, scripted and reality series, live-action and animated kids content, ABC News, and specials such as the Academy Awards. In terms of television content sales, DMD is part of the Disney/ABC Television Group which is composed of The Walt Disney Company's (NYSE: DIS) global entertainment and news television properties, owned television stations group, as well as radio and publishing businesses. This includes the ABC Television Network, ABC Owned Television Stations Group, ABC Studios, Disney Channels Worldwide, ABC Family and SOAPnet, as well as Disney/ABC Domestic Television and Disney Media Distribution. The Radio Disney network, Hyperion publishing, and the Company's equity interest in A&E Television Networks round out the Group's portfolio of media businesses.