MOVIES - July 14, 1988

From our Nothing Succeeds Like Success file: Walt Disney Co. President Frank Wells reported he made a profit of about $28.3 million on the sale of Disney stock between December and the last week of June. In a report to the Securities and Exchange Commission, Wells said he sold off the 580,000 shares for purposes of paying off loans he made to buy the stock, and for tax and estate planning purposes. A spokesman for Disney, the most successful studio in town these days, said Wells still has options to buy 524,000 shares. Over the life of his 5-year contract, Wells gets options to buy 1.8 million shares of Disney stock. Not bad, even when you consider that Disney chairman Michael Eisner exercised stock options worth more than $31 million last year.