The Walt Disney Company (DIS)’s Newest Franchise Feels Familiar, but With a Twist: Time Warner Inc (TWX)

It’s also a different visual spin on some very familiar material. Disney can use L. Frank Baum’s text all day long, but the original Wizard of Oz movie is still firmly under Warner’s copyright umbrella. So the Wicked Witch of the West shows up again, but she’s a slightly different color and lacks that familiar mole on her chin. Dorothy’s ruby slippers are Warner’s property (they’re silver in the books), and you won’t see the Yellow Brick Road swirling away between the Munchkins — Warner’s design, not Baum’s.

You can bet that Time Warner Inc (NYSE:TWX) would have sued the celluloid off this movie, given half a chance. The company has a core property to protect, after all.

Raising new tentpoles for fun and profit
The old MGM movie is still a fantastic film, but time has passed it by in many ways. I expect audiences to absorb this fresh take on the well-worn world to create a new canon, without chin moles but including James Franco and Mila Kunis. This is a brand-new franchise for Disney (not counting failed reboot attempts under license, decades ago).

It might not have the Hulk-powered punch of the Marvel portfolio, and it remains to be seen if Oz can stand shoulder to shoulder with Buzz Lightyear’s Pixar friends. And you know there’s no way to top the Star Wars saga, particularly with core actors such as Harrison Ford and Carrie Fisher coming back to bolster the Disney-produced sequels (and let’s hope Disney keeps its prequels in Oz from now on).

But placing third or fourth in a race of that caliber is no small potatoes. Disney will milk this time-honored cash cow for decades to come. Nobody, but nobody, does it better.

The article Disney’s Newest Franchise Feels Familiar, but With a Twist originally appeared on Fool.com.

Fool contributor Anders Bylund holds no position in any company mentioned. Check out Anders’ bio and holdings or follow him on Twitter and Google+.The Motley Fool recommends and owns shares of Walt Disney.

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