June 3, 1995 in Nation/World

Dole’s Wife Sells Disney Stock After Learning Of ‘Priest’ Origin Disney Subsidiary Miramax Also Produced ‘Pulp Fiction’

John King Associated Press
 

Elizabeth Dole said Friday she would immediately sell more than $15,000 in Walt Disney Co. stock after being told that a Disney subsidiary made “Priest,” one of the movies her husband has criticized in recent attacks on Hollywood values.

“Priest,” a controversial film portraying sexual misconduct by Roman Catholic clergy, was produced by Miramax, which Disney acquired in 1993. Miramax also distributed the 1994 release “Pulp Fiction,” a violent, dark-humored film inspired by lurid crime fiction.

Walt Disney also owns Hollywood Records, whose performers have included rapper Prince Akeem, who in a 1991 song blamed black poverty on a “white conspiracy.” Akeem was a follower of Nation of Islam leader Louis Farrakhan.

Dole’s 1993 Senate disclosure form, which lists investments and their values in broad ranges, showed that he owned between $1,001 and $15,000 in Walt Disney common stock. Elizabeth Dole reported a similar Disney investment.

Dole is required to file a 1994 form next week. A presidential campaign aide said that form would show that Dole sold his Disney stock last July 5, when he sold all his common stock holdings.

Elizabeth Dole, who is president of the American Red Cross, still has her Disney stock, and the new form will show its value has increased to the $15,001-$50,000 range, the aide said. Both Doles earned modest dividends from Disney last year.

Less than an hour after being asked about the investments Friday by The Associated Press, Elizabeth Dole said through a campaign official that she would sell her Disney shares.

“Walt Disney has a long tradition of making high quality family movies,” said Dole campaign manager Scott Reed. “Mrs. Dole was surprised to learn that Walt Disney owned Miramax and Hollywood Records and has decided to sell her stock.”

Disney’s ownership of Miramax surfaced in numerous news reports about the controversial movie earlier this year. The Knights of Columbus, for example, announced in April that it was selling $3 million of Disney stock because of the company’s connection to Mirimax and “Priest.”


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