Disney has confirmed the exit of Peter Rice and the ascension of Dana Walden.

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Release that doesn't even mention Rice or the reason why he was fired is not the same story that we broke at 8:18 am PST.

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Disney has dismissed Peter Rice from his post as the Chairman of Walt Disney Television and Co-Chair, Disney Media Networks.

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The studio has appointed Dana Walden, Chairman of Entertainment, Walt Disney Television to succeed him.

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Both came to the scene as Disney was swallowed by Fox and are thought to be to be among the top creative executives in the business.

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This is a major restructuring change that was made by Disney CEO Bob Chapek, as he continues to stamp his name on the post of Bob Iger.

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It's an incredibly powerful move that has left people in Hollywood in awe, mainly due to the unpredictability of the sequence of events.

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As well as in reversing the executive structure that has worked so well, because Rice along with Walden have been working in a harmonious way for so many years.

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When it came to Rice, Disney had an executive who was a talented person and a deep understanding of news, sports and finance

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Executives like that do not grow in trees, as several notable industry leaders claimed.

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