Disney will donate $2 million and Viacom will give $1 million to the Hurricane Sandy rebuilding effort, the two companies said Thursday in separate announcements..
Disney will give $1 million to the American Red Cross for immediate assistance and another $1 million will be designated for organizations working on rebuilding efforts.
Viacom 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 and New Jersey. In addition, Viacom has set up a $1 million employee matching gift program with the American Red Cross, which will give Viacom employees the opportunity to maximize their donations.
With global headquarters in New York's Times Square and operations in downtown New York City, New Jersey and on Long Island, Viacom has more than 4,000 employees who live in the communities directly impacted by Hurricane Sandy.
Also read: News Corp. Donates $1M to Hurricane Sandy Relief Viacom president and CEO Philippe Dauman, said, "The devastation from Hurricane Sandy is unprecedented and has left so many struggling to rebuild their lives. 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."
Disney will also match its employees' donations to organizations involved in disaster relief via the Walt Disney Company Foundation.
"It's hard to fathom the devastation from this storm," said Robert A. Iger, chairman and chief executive officer of The Walt Disney Company. "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.
On Wednesday, News Corp. said it would donate $1 million to help victims of Hurricane Sandy, which has caused enormous damage on the East Coast this week.
The cost for the cleanup effort has been estimated at between $30 billion and $50 billion.