Company Town

* Travel: Walt Disney Co., which last year disclosed that it is entering the cruise ship business, has ordered its first two ships from Italy’s Fincantieri of Trieste, which Disney claims will be larger than any cruise ships in operation. The Disney Cruise Lines unit said the two 85,000-ton vessels--which can accommodate up to 2,400 passengers each--are scheduled for delivery in 1998. The ships are believed to cost about $400 million each. The company hopes to build a family cruise business that links cruise vacations with visits to Walt Disney World in Orlando, Fla.

* Home entertainment: A new, integrated Twentieth Century Fox Home Entertainment division is being formed by the studio to market and distribute Fox’s video and multimedia products. The unit’s North American president is Bob DeLellis, with Jeff Yap president of its international operation. Separately, the unit agreed to market and distribute titles from Magnet Interactive Studios, a multimedia developer.