Disney, Viacom Pledge Storm-Relief Funds

The Walt Disney Co. and Viacom said they committed funds for relief and rebuilding in the wake of Hurricane Sandy, of $2 million and $1 million respectively.

Disney will donate $1 million will be donated to the American Red Cross for immediate, critical assistance, and another $1 million will be designated for organizations working on rebuilding efforts. In addition, Disney employee eligible donations to organizations involved in disaster relief will be matched, dollar for dollar, by The Walt Disney Co. Foundation.

“It’s hard to fathom the devastation from this storm,” Disney chairman and CEO Bob Iger said in a statement. “Thousands of people in the hurricane’s path lost everything and face the daunting challenge of putting their lives and communities back together. We hope this helps provide immediate aid needed to get through this disaster and begin the road to recovery.”

In addition to financial assistance, Disney-ABC Television Group and ESPN will run public service announcements on ABC, ABC.com, ABCNews.com, Radio Disney and ESPN’s family of networks encouraging viewers to support relief and rebuilding efforts, the company said.

Viacom said it will donate $500,000 to the Mayor's Fund for NYC and $500,000 to local organizations for relief and rebuilding efforts in Connecticut, Long Island, New Jersey and Westchester County. In addition, Viacom has set up a $1 million employee matching gift program with the American Red Cross.

"The devastation from Hurricane Sandy is unprecedented and has left so many struggling to rebuild their lives,” Viacom president and CEO Philippe Dauman said in a statement. “Viacom has always had a strong relationship with the communities it serves and we are proud to step forward once again to help those in need.”

New York-based Viacom said it has more than 4,000 employees who live in the communities directly affected by Hurricane Sandy.

Viacom also announced the creation of a Viacommunity Employee Relief Program to directly assist Viacom employees who have been severely affected by the storm.

Other corporations that announced they are donating money for storm relief include The Coca-Cola Co., FedEx, JPMorgan Chase, Citibank, Target, CapitalOne, Lowe’s and Wells Fargo.