Storming Magic Kingdom

Disney is once again a golden name in Hollywood, but three years ago that wasn't the case, prompting a Disney family rift that erupted in a struggle for company control. But what Disney insiders saw as a mismanaged family business looked to Wall Street like a prime takeover candidate; the family squabble set off a chain of events that had such formidable financiers as Saul Steinberg, the Bass Brothers, even Ivan Boesky grappling for keys to the Magic Kingdom. Taylor, of Manhattan Inc., provides a detailed, conference-call-by-conference-call account of the ensuing paper war, in a narrative as fast-paced and exciting as a classic Disney adventure, with the company itself playing the Hayley Mills part: the imperiled, innocent heroine who at the end emerges harried but unharmedand more than a little wiser for the wear. Keeping financial jargon to a minimum, Taylor makes the Byzantine mechanics of contemporary finance easy to follow, shedding light on the takeover phenomenon and on the risks facing companies whose dearest assets are the creative talents of their employees. Photos not seen by PW. (April 13)