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Disney Reaffirms Its Belief in Jobs' Magic

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    NEWSLETTERS

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    CUPERTINO, CA - OCTOBER 20: Apple CEO Steve Jobs announces iLife 11 during an Apple special event at the company's headquarters on October 20, 2010 in Cupertino, California. Apple announced a new version of it's iLife suite and is expected to announce a new operating system for its Mac computers. (Photo by Justin Sullivan/Getty Images)

    How big of a deal is Steve Jobs' health? If you believe in magic, no big deal at all.

    The Walt Disney Company re-elected the Apple CEO to its board Wednesday despite some concerns about his health.

    Some advisers to Walt Disney said the company should be concerned about the health of the 56-year-old. They said Jobs' medical leave from Apple "raises questions about his ability to fulfill his responsibilities as a director.”

    But Disney investors rejected the concern, stating they were not worried that any health problems would hinder Jobs' ability to serve Disney.

    Jobs was elected with 12 other nominees at a share holder meeting in Salt Lake City. He joined the Disney board in 2006 after the Mickey Mouse operation purchased Pixar for $7.4 billion in stock, where Jobs is also a board member.

    The Apple CEO is the largest shareholder of Disney, owning about 7 percent of the company.