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Listen and follow DealBook SummitApple Podcasts | Spotify | Amazon MusicDealBook Summit includes conversations with business and policy leaders at the heart of today’s major stories, recorded live at the annual DealBook Summit event in New York City. When he was last chief executive of Disney, one of Bob Iger’s favorite things to do was to sit in a reconstruction of Walt Disney’s office. “It sounds a little weird,” Iger told Andrew Ross Sorkin of The Times at the DealBook Summit, “but it’s kind of a nice way to relax and appreciate the legacy of the company.”

Persons: Bob Iger’s, Walt, Iger, Andrew Ross Sorkin, ” Organizations: Spotify, Disney, The Times Locations: New York City

☆ Marvel movies will be Bob Iger’s Disney priority after the cinematic universe suffered recent box office fails
▼ + stars: | 2023-11-29 | by ( Liam Reilly | Jon Passantino | ) edition.cnn.com time to read: +4 min

“Quality needs attention to deliver quality, it doesn’t happen by accident,” Iger said. Iger, speaking in a wide-ranging interview with Andrew Ross Sorkin at The New York Times’ annual DealBook summit, acknowledged that Disney had “diluted” the caliber of films produced by Marvel. The company, he added, had “made too many” film sequels that had not been well received by audiences or critics. Francis deSouza, the former CEO of Illumina — a biotech company — said he would not seek re-election to the board. In a statement, Mark Parker, the chairman of Disney’s board, praised Gorman’s succession planning abilities at Morgan Stanley.

Persons: CNN —, Bob Iger, ” Iger, ” “, Andrew Ross Sorkin, “, we’ve, ”, Iger, Bob Chapek, you’ve, Morgan Stanley, James Gorman, Sky Jeremy Darroch, Francis deSouza, Illumina, —, Mark Parker, Ted Pick, Gorman, James, Morgan Stanley’s, ” Parker, Samantha Delouya Organizations: CNN, CNN — Disney, Marvel Studios, Marvel, The New York Times, Disney, Sky, “

☆ Inside Bob Iger’s Roller Coaster Year at Disney
▼ + stars: | 2023-11-19 | by ( Sarah Krouse | ) www.wsj.com time to read: 1 min

Iger said that the company’s progress since his return meant Disney can “move beyond this period of fixing and begin building our businesses again.” Wall Street analysts have expressed confidence that Disney shares can recover from their recent slump. Fang Zhonglin/Imagine China/Reuters

Persons: Iger, Fang Zhonglin Organizations: Disney, Reuters Locations: China

☆ Disney’s franchise fatigue taints M&A magic
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

Chairman and Chief Executive Officer of The Walt Disney Company, Robert Iger, attends the premiere of "Star Wars: The Rise of Skywalker" in Los Angeles, California, U.S. December 16, 2019. REUTERS/Phil McCarten Acquire Licensing RightsNEW YORK, Nov 14 (Reuters Breakingviews) - Walt Disney’s (DIS.N) load-bearing franchises are cracking. Disney’s Pixar studio delivered its own opening weekend dud with “Elemental.” The Star Wars universe’s latest TV expansion, “Ahsoka,” was panned. Iger’s acquisitions of Marvel, Pixar and Star Wars’ Lucasfilm seemed a master stroke of M&A. A slowdown at his most prized acquisitions raises the stakes on his next M&A decisions at a time of increased scrutiny.

Persons: Robert Iger, Phil McCarten, Walt Disney’s, ”, Bob Iger’s, Iger, Nelson Peltz, Jennifer Saba, Orsted’s, Cameron, Jonathan Guilford, Streisand Neto Organizations: Walt Disney Company, REUTERS, Reuters, Marvel, Variety, Pixar, Disney, Star Wars, Lucasfilm, X, Thomson Locations: Los Angeles , California, U.S

☆ Opinion | The Era of Prestige TV Is Ending. We’re Going to Miss It When It’s Gone.
▼ + stars: | 2023-09-21 | by ( Roy Price | ) www.nytimes.com time to read: +3 min

I left Amazon Studios in 2017 (after accusations I dispute), and five years later, the larger industry picture looks exceedingly bleak. In the last year nearly every major studio, from Warner Bros. to Paramount, has announced layoffs and write-offs. Amazon was plagued by reports that its big investment in a “Lord of the Rings” series yielded disappointing viewership numbers. Many of its key writers and producers, including Judd Apatow and Steve Levitan, went on to broadly influence TV and film comedy. It’s HBO.” summed it up: Prestige TV was trying to be, as was sometimes said, “filmovision” — as dark and true to life or shockingly violent as necessary.

Persons: Bob Iger’s, HBO Max, Max, they’ll, Larry Sanders, “ Sanders ”, Judd Apatow, Steve Levitan, Oz, ”, “, Maisel, Ted Lasso ”, Pimple Popper, ” there’s Organizations: Amazon Studios, Warner Bros, Paramount, Disney, HBO, Showtime, City, Prestige, Netflix, “, Amazon, Golden Globes

☆ ABC News staffers ‘freaking’ out over reports Disney is in talks to sell the outlet
▼ + stars: | 2023-09-14 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

Bloomberg’s Christopher Palmeri and Thomas Buckley reported that Disney has “held exploratory talks” about selling ABC to Nexstar Media Group. The duo also reported that media mogul Byron Allen has also spoken with Disney about a possible deal. “Everyone is freaking the f**k out,” one ABC News staffer bluntly told me about the state of affairs inside the network. Whether a deal to offload ABC and Disney’s linear stations is ultimately in the cards remains to be seen. “I’m ridiculously passionate about news,” Iger told senior company leaders.

Persons: Bloomberg’s Christopher Palmeri, Thomas Buckley, Byron Allen, ”, anxiousness, Will, Robert F, Kennedy Jr, Disney, Bob Iger’s, ABC News’ers, they’re, Iger —, ” Iger, “ Organizations: CNN, ABC News, Disney, Magic Kingdom, ABC, Nexstar Media Group, Nexstar, CW, ESPN, Bloomberg, CNBC, Sun Locations: New York City

☆ Disney Earnings Put Focus on Bob Iger’s Deal-Making To-Do List
▼ + stars: | 2023-08-09 | by ( Robbie Whelan | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Disney extends CEO Bob Iger’s contract through 2026
▼ + stars: | 2023-07-12 | by ( Samantha Delouya | ) edition.cnn.com time to read: +3 min

CNN —The Walt Disney Company’s board has unanimously voted to extend CEO Bob Iger’s contract through the end of 2026 — an extension of two years. “Because I want to ensure Disney is strongly positioned when my successor takes the helm, I have agreed to the Board’s request to remain CEO for an additional two years,” he said. In 2020, Bob Chapek, the company’s former chairman of Disney Parks, Experiences and Products, was named CEO after Iger unexpectedly announced his retirement. In November 2022, Chapek was ousted just months after signing onto a new three-year contract with Disney, and Iger stepped back into the role as CEO. Iger’s first term as Disney CEO lasted 15 years, from 2005 to 2020.

Persons: Walt Disney, Bob Iger’s, Iger, Disney’s, ”, ” Iger, Disney, Bob, Mark Parker, “ Bob, Bob Chapek, Chapek, Scarlett Johansson, Iger’s Organizations: CNN, Walt, Disney, Disney Parks Locations: Florida

☆ Exclusive: Walt Disney's Pixar targets 'Lightyear' execs among 75 job cuts
▼ + stars: | 2023-06-03 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +2 min

[1/2] A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermidJune 3 (Reuters) - Walt Disney's (DIS.N) Pixar Animation Studios has eliminated 75 positions including those of two executives behind box office disappointment “Lightyear,” sources said on Saturday, the first significant job cuts at the studio in a decade. Susman had been at Pixar since the release of the original “Toy Story” movie in 1995. The cuts, which took place May 23, are part of Walt Disney Chief Executive Bob Iger’s previously announced plan to eliminate 7,000 jobs and slash $5.5 billion in costs. Disney acquired Pixar in 2006 to revitalize its struggling Disney Animation.

Persons: Brendan McDermid, Walt Disney's, “, Angus MacLane, “ Coco, ” Galyn Susman, Susman, Michael Agulnek, Bob Iger’s, ”, Bob Peterson, Dawn Chmielewski, Cynthia Osterman Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Pixar Animation Studios, Pixar, Walt Disney, Disney Entertainment, Disney, Disney Animation, Thomson Locations: New York, U.S

☆ Exclusive: Walt Disney's Pixar Animation eliminates 75 positions
▼ + stars: | 2023-06-03 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +1 min

June 3 (Reuters) - Walt Disney's (DIS.N) Pixar Animation Studios has eliminated 75 positions including those of two executives behind box office disappointment “Lightyear,” sources said on Saturday, the first significant job cuts at the studio in a decade. Susman had been at Pixar since the release of the original “Toy Story” movie in 1995. MacLane and Susman could not be reached for comment. The cuts, which took place May 23, are part of Walt Disney Co Chief Executive Bob Iger’s previously announced plan to eliminate 7,000 jobs and slash $5.5 billion in costs. Reporting by Dawn Chmielewski; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

Persons: Walt Disney's, “, Angus MacLane, “ Coco, ” Galyn Susman, Susman, Bob Iger’s, Dawn Chmielewski, Cynthia Osterman Organizations: Pixar Animation Studios, Pixar, Walt Disney Co, Thomson

☆ Sanction hit tars BAT’s US listing hopes
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 26 (Reuters Breakingviews) - British American Tobacco (BATS.L) could have trouble getting more American love. The $635 million settlement plus interest may be less of a financial spoil for the $82 billion giant. Still, investors including Rajiv Jain’s GQG Partners, had hoped BAT could move its listing to the United States to close a yawning valuation gap. The reputational stain from its fine, however, raises the risk that if it were to move stateside, U.S. investors may still apply a discount. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Teck swats dealmaking ball back into its own court
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

Canadian miner Teck Resources (TECKb.TO) on Wednesday tore up Plan A, which was a scheduled shareholder vote on splitting the company. Boss Jonathan Price and controlling shareholder Norman Keevil also are rejecting Plan B, an even more intricate, all-share $24 billion takeover bid from Glencore (GLEN.L). If Teck doesn’t come up with a persuasive third option, and soon, it is likely to face increased pressure to sell. Teck vowed to come back with a “simpler and more direct” separation proposal. Keevil’s blocking stake is an obvious impediment, but if Plan C doesn’t fly, Plan B will look more compelling.

☆ Credit Suisse’s corpse drags on Nomura
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

Like peers, it is feeling the pain of the Silicon Valley Bank crisis and Credit Suisse’s (CSGN.S) collapse. And Nomura (8604.T), as with Goldman Sachs (GS.N), is ill-positioned to benefit from rising lending rates as much as commercial banks are; both investment-banking firms posted a 5% decline in net revenue in the most recent quarter. Wholesale revenue, dragged down by a 20% decline in investment banking, contracted for the quarter but remained up 10% for the year. Retail and investment management contracted compared to the prior quarter; that could be more than just seasonal if the global economy stays rickety. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Reckitt CEO switch may boost odds of a takeover
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 26 (Reuters Breakingviews) - Reckitt Benckiser’s (RKT.L) decision to appoint an insider as CEO may help to entice prospective buyers, like U.S. giant Procter & Gamble (PG.N). Reckitt has been a perennial takeover target, as previous bosses struggled to deliver consistently strong revenue growth. It is still paying down a hefty debt pile following an ill-advised $17 billion takeover of baby food maker Mead Johnson in 2017. Net revenue grew by nearly 8% year-on-year in the first quarter – after excluding acquisitions, disposals and currency fluctuations. Reckitt’s shares trade at 17 times forecast 2023 earnings, compared with P&G’s multiple of nearly 25 times.

☆ News anchor carnage is a post-Trump reality
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +2 min

Rupert Murdoch’s Fox (FOXA.O) announced the abrupt departure of star host Tucker Carlson, while Don Lemon, an anchor at rival CNN, said he had been fired. After the easy news cycle served up by former President Donald Trump’s administration, the networks are going through an identity crisis. Network chief Chris Licht is trying to reposition the organization toward straight-down-the-middle journalism, but is struggling to get the lineup to click. Even MSNBC is trying to recapture the magic after leading host Rachel Maddow left her five-day-a-week spot last year. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Bob Iger’s stalling may be stifling
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

The $180 billion company run by Bob Iger is kicking off its second round of layoffs, according to Reuters, part of an effort to cut $5.5 billion in costs. That’s a solid effort to keep activist Nelson Peltz, who had griped about Disney’s margins, at bay for now. The tricky part is ensuring assets don’t lose even more value before Iger heads out the door. Iger said he would leave the company and is meant to be setting up a successor. The balance act is ensuring Iger doesn’t degrade value, leaving a mess for his successor, whenever that person comes along.

The tech company will begin its latest round of layoffs today, in its Facebook, WhatsApp, Instagram and Reality Labs units, according to Vox, with up to 4,000 positions possibly set to go. Disney will cut thousands of jobs next week, as part of the C.E.O. Commentators and investors said the moves were a long-awaited recognition that Goldman should focus on its strengths. The online chatboard company told The Times that it would start making others pay to use its application programming interface, the method that allows outside entities to download its vast offering of user discussions. projects by tech giants — which must be trained on huge amounts of data — as a reason for the move.

☆ Disney boss Bob Iger talks about the future of Marvel, ‘Star Wars,’ ESPN, and Hulu
▼ + stars: | 2023-03-09 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

New York CNN —Bob Iger’s vision for Disney is coming into greater focus. The CEO touched on a broad range of subjects, including Disney+, Marvel, “Star Wars,” and Hulu, among others. “We’re going to turn back to the Avengers franchise, but with a whole set of different Avengers,” Iger said. ► Imperative to be “very careful” with “Star Wars”: Iger said that the company is also being “very careful” in its approach to the “Star Wars” franchise. “In our zeal to grow profits, we may have been a little bit too aggressive about some of our pricing,” Iger said.

☆ Jim Cramer says Disney stock has more upside thanks to Bob Iger’s turnaround plan
▼ + stars: | 2023-02-09 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday said that he's bullish on Disney after the company announced a robust restructuring and cost-cutting plan. Disney announced a plan to lay off 7,000 employees, restructure the company and cut $5.5 billion in costs on Wednesday during its first-quarter earnings conference call. Activist investor Nelson Peltz told CNBC on Thursday that he's satisfied with Iger's turnaround plan for Disney and that Trian Fund Management's proxy fight with the media giant is over. Cramer, who has harshly criticized former CEO Bob Chapek's performance, said that Iger has changed the company's narrative into one that can execute its goals. "That's a huge sign of confidence from management," Cramer said.

Disney issued a statement applauding Peltz's decision to end a board challenge which it called a "distraction. 'FIRST PHASE' IN DISNEY'S TRANSFORMATIONFor Peltz's Trian Fund Management the board challenge appears to have paid off with an estimated 20% gain on his investment. Analysts said Peltz made a reasonable request for one board seat and to join the 12-member board himself. Peltz appeared on CNBC on Thursday to announce his proxy fight with Disney was over. "Bob Iger has a long, strong track record which provides confidence he will manage this transition for Disney."

☆ Bob Iger’s biggest challenge at Disney: Finding the next Bob Iger
▼ + stars: | 2022-11-30 | by ( Frank Pallotta | ) edition.cnn.com time to read: +5 min

New York CNN Business —Bob Iger has a lot on his to do list in his second round as Disney’s CEO. Finding the next Bob Iger. Josh D’AmaroLet’s start with Josh D’Amaro, chairman of Disney’s Parks, Experiences and Products, who took over that role from Chapek when he became CEO. Jimmy Pitaro & Dana WaldenThere also are two executives from Disney’s TV side: Jimmy Pitaro, chairman of ESPN and Sports Content, and Dana Walden, chairman of Disney General Entertainment Content. The next Bob IgerIs it even possible to replace Bob Iger?

☆ Bob Iger moves fast to dismantle Chapek’s reorganization of Disney
▼ + stars: | 2022-11-21 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

Disney’s shares ended Monday up more than 6% on a day that the Dow Jones was slightly down. Second, Iger is moving fast — not even waiting a full 24 hours to announce sweeping changes — to dismantle Chapek’s reorganization of the company. The speed at which Iger is hurtling is especially remarkable given that Disney’s board only made its overture for Iger to return to the embattled company on Friday. “Over the coming weeks, we will begin implementing organizational and operating changes within the company,” Iger wrote to employees. Looking further into the future, bigger questions abound: What will Disney look like when Iger’s two-year deal is up?

☆ ESPN would help Disney and Comcast settle a score
▼ + stars: | 2022-09-23 | by ( Jennifer Saba | ) www.reuters.com time to read: +7 min

NEW YORK, Sept 23 (Reuters Breakingviews) - When it comes to modern corporate sagas, few deliver the drama between Walt Disney (DIS.N) and Comcast (CMCSA.O). Comcast Chief Executive Brian Roberts is in position to let his counterpart squirm, but there’s a neat solution to help settle the score: ESPN. He feared Comcast “would have paid more later.”Register now for FREE unlimited access to Reuters.com RegisterBefore long, Comcast clashed again with Disney. To settle the matter, the two parent companies agreed that in January 2024 Comcast could force Disney to buy its stake or Disney could require Comcast to sell based on a minimum valuation of $27.5 billion. Disney owns two-thirds of Hulu and Comcast owns the rest.

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