Disney is understood to have picked Carat, WPP's MindShare, Publicis-owned ZenithOptimedia and Havas's Media Planning Group to battle it out for the account.
Pitches are expected to be held at the end of this month.
The business is being reviewed by the Walt Disney procurement department.
The review began in October last year and covers the entire Walt Disney Studio business, comprising its Buena Vista music and film distribution business and Disney-branded TV channels.
Disney's media account is worth around £21m in the UK alone, according to Nielsen Media Research. The UK portion of the business moved to Carat from Vizeum as part of a consolidation in 2005.
A spokesman for Walt Disney, which produces movies such as 'Ratatouille', 'Enchanted' and the 'Pirates of the Caribbean' trilogy, said the review was part of a best-practice, procurement-led process across all of its business units.
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