No sympathy for the snorter: Disney distances itself from Keith Richards

Yesterday afternoon, I noted that The Walt Disney Company (NYSE: DIS) had been suspiciously silent on the whole Keith-Richards-snorting-dear-old-Dad scandal. Today, officials with the Mouse emerged to say that the Rolling Stones guitarist will not be involved with promoting Pirates of the Caribbean: At World's End, despite his highly publicized cameo in the movie. Studio executives have concluded that Richards is simply "too unpredictable" to participate in publicity for the film.

Mr. Richards has since declared that his controversial comments were simply a joke, noting on the Rolling Stones' official website that: "The complete story was lost in the usual slanting." Richards went on to insist that his late father's ashes were used to fortify a newly planted oak tree, and declared that "I wouldn't take cocaine at this point in my life unless I wished to commit suicide."

I'm not sure if I exactly believe this new spin, and it seems pretty clear that family-friendly DIS is trying to distance itself from a potential loose cannon. The fallout from Richards' bizarre confession could be a tip, however, for any jaded Hollywood types who are tired of doing the publicity circuit.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.