BOSTON – German electronics and engineering company Siemens AG is ousting AT&T Corp. (T) from the 180-foot golfball-shaped geosphere at Epcot Center and pushing Sony off the ABC billboard in Times Square.
Siemens will be putting its logo on those Disney icons and other prominent Walt Disney Corp. (DIS) properties as part of a 12-year deal announced Tuesday morning.
The companies did not discuss the financial terms of the agreement, but TSE Sports & Entertainment President Robert Tuchman estimates Siemens will get about $100 million in promotional and marketing rights.
"Disney is such a good brand. This is worth much more than, say, naming rights to a stadium," said Tuchman, who represents corporations in promotional deals with sports teams and other entertainment companies.
The deal also allows Siemens to use Disney characters for conferences and other events, said Siemens spokeswoman Paula Davis.
In the first half of 2006, Siemens will get a permanent spot on the billboard in Times Square run by Disney's ABC television unit, Davis said.
The agreement also calls for Disney and Siemens to collaborate on modernizing technology that the entertainment company uses on its attractions and resorts.
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