food IS a theme park
The Walt Disney Company announced a donation of $2 million to organizations that are providing humanitarian relief in the region following the deadly Hamas terrorist attacks in Israel.
©Disney | Walt Disney Company Headquarters
Disney CEO Bob Iger released a statement on the attacks.
Nelson Peltz has reentered the Disney story like a villain even Walt himself couldn’t have dreamed up.
©New York Times Nelson Peltz of Trian Partners
After throwing his name into the ring for a position on Disney’s Board of Directors, Peltz initiated a proxy battle for the spot which ultimately ended before it began, with Peltz pulling out of the fight and declaring his support for Disney and CEO Bob Iger. But, with Disney stock prices at their lowest point in nearly 10 years, Peltz is back — and it sounds like he isn’t too happy.
The Walt Disney Company has been put through the wringer lately, between political controversy, lawsuits, labor strikes, and more.
©Disney | Walt Disney Company Headquarters
It’s caused a lot of uncertainty about the future of the company, causing investors to turn the pressure up on CEO Bob Iger and the board. Not only that, but Disney stock has seen its fair share of troubles over the past year, and now, it’s dropped to its lowest point since 2014.
Back in February, Bob Iger announced that the Walt Disney Company would undergo a restructuring, causing $5.5 billion in spending cuts.
Bob Iger, CEO
As a part of this overhaul, 7,000 job cuts went into motion, and many lost their jobs in the following months. In March, the company laid off more than 300 employees in China who were working on its streaming services. Now, those layoffs are creating more questions as malfunctions affect the company’s streaming programs.
For plenty of folks, fall doesn’t officially kick off until the NFL season starts (see what we did there?).
©Disney | Walt Disney Company Headquarters
But, a contract dispute with Charter Communications (who owns Spectrum) has left millions without access to Disney-owned cable channels — including ABC and ESPN. Disney came out with a statement saying that Charter had declined an offer to extend negotiations which would have avoided this blackout, and a class-action suit was filed against Charter. Now, it looks like there may finally be a solution.
Is Bob Iger the savior some have made him out to be or is he really and truly a secret saboteur?
©Apple
After Bob Chapek took over the role of Disney CEO, a number of big changes hit the Company. Rumors circulated of Iger’s return to make some adjustments. Iger claimed these were false, saying “You can’t go home again. I’m gone.” But that would prove to be untrue. Stories began to circulate about how Iger reportedly regretted picking Chapek as his successor. Chapek was ultimately ousted and Iger returned as CEO in 2022. Details about the transition from Iger to Chapek have long been discussed. But new information has since been shared.
Things have gotten interesting with the Walt Disney Company lately.
Hi, Mickey!
Recently, we saw Disney’s stock prices drop lower than we’ve seen them in about 9 years, and at the Q3 earnings call for fiscal 2023, we learned that overall revenue isn’t as high as the company was hoping it would be when Bob Iger returned as CEO about a year ago. Earlier this year, we heard talk of Disney hoping to acquire more stakes in Hulu, which they already own about two-thirds of. Comcast owns the other third. Disney and Comcast signed an agreement to begin sale talks as early as 2024. Now, there’s been a change regarding the negotiation talk between Disney and Comcast.
Rumors have been swirling that The Walt Disney Company could be sold off sometime soon, with analysts predicting it could happen within three years.
©Disney | Walt Disney Company Headquarters
CEO Bob Iger commented on the rumors during the Q3 earnings call for Fiscal Year 2023, stating that he wouldn’t comment “on the future structure of the company or the asset makeup of the company.” He did say they are looking at all of their “strategic options” when it comes to things like linear networks and ESPN. But, what do Disney fans think of a possible sale?
Disney leadership has been on quite the rollercoaster ride recently.
Bob Chapek and Bob Iger ©CNBC
Bob Chapek was removed from his position as CEO in late 2022 and Bob Iger returned after just a brief time away. Since that time, we’ve seen various executives leave the Company, others return (sometimes in advisory capacities), and major shifts in organization take place. But news about Chapek and his view on his time as CEO has been noticeably absent…until now.
Disney just made two SURPRISING announcements!
Disney World
The Walt Disney Company recently held its third-quarter earnings call for fiscal year 2023 and released an earnings report as well. CEO Bob Iger talked about the Hollywood writer and actor strikes, the new ESPN betting service, and a new Disney+/Hulu Duo Bundle, among several other topics. There were quite a few announcements that we were already expecting, but two announcements really surprised us!
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