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☆ Activist investor ValueAct has been building a stake in Disney
▼ + stars: | 2023-11-15 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

ValueAct Capital has taken a significant stake in Disney (DIS) and has been in dialogue with Disney's management, the Activist Spotlight has learned. It operates through two segments, Disney Media and Entertainment Distribution; and Disney Parks, Experiences and Products. Activist Commentary: ValueAct has been a premier corporate governance investor for over 20 years. ValueAct began buying Disney this summer during the WGA and SAG strikes and it is one of the firm's largest positions. This certainly gives the Disney board an alternative they were not expecting.

Persons: ValueAct, Warner, Mason Morfit, Wordle, Bob Iger, Iger, Satya Nadella, Steve Ballmer, Nelson Peltz, Ken Squire Organizations: ValueAct, Disney, Business, Disney Media, Entertainment, Disney Parks, Warner Bros, Paramount, Netflix, WGA, SAG, Microsoft, Adobe, New York Times, Spotify, Century Fox, ESPN, Hulu, Athletic, Trian Partners, 13D Locations: Salesforce

☆ Disney's wildest ride: Iger, Chapek and the making of an epic succession mess
▼ + stars: | 2023-09-06 | by ( Alex Sherman | ) www.cnbc.com time to read: +88 min

Iger told Chapek that he lived for those "two-shower days," according to people familiar with the conversation. In January 2020, Iger told Chapek the plan was back on. During his 27 years at the company, Chapek had only attended one annual meeting — as a guest in the audience. Bob Iger, Disney CEO, during a CNBC interview, Feb. 9, 2023. WATCH: Disney CEO Bob Iger's exclusive July 2023 CNBC interviewTake the 'A'During Chapek's tenure as CEO, Disney lost more than a quarter of its market value.

Persons: Elham, Bob Iger, Bob Chapek, Iger, wasn't, Chapek, Michael Eisner, —, who's, he's, Clint Eastwood, Eastwood, Arthur Bochner, Jackie Hart, Kareem Daniel, Chapek —, Eisner, Michael Ovitz, Ovitz, Bob, Disney's, Kevin Mayer, Mayer, Bryan van der Beek, he'd, Tom Staggs, Staggs, Staggs —, Steve Jobs, cajoled Ike Perlmutter, George Lucas, Rupert Murdoch, Iger's, Susan Arnold, Arnold, Peter Rice, David Paul Morris, Rice, CNBC's Julia Boorstin, Mark Parker, Mary Barra, Michael Froman, Willow, Parker, John Donahoe, Roy Disney, Walt Disney, Stanley Gold, David A, CNBC Eisner, Big Bob, Little Bob, Christine McCarthy, Patrick T, He'd, McCarthy, Iger —, Coronavirus, Gavin Newsom, Michael Kovac, curtly, Nancy Pelosi, Chuck Schumer, Ben Smith, Smith, Disney, Randy Shropshire, Agnes Chu, Ricky Strauss, Chu, Strauss, Kevin Feige, Kathleen Kennedy, Who's, Alan Bergman, Bergman, Bob Kyncl, Daniel —, Iger didn't, Daniel rankled, Daniel, Chapek didn't, James Pitaro, Jesse Grant, CNBC Chapek, Jimmy Pitaro, Zenia Mucha, didn't, Mucha, Barbara Walters, Charles Eshelman, Scarlett Johansson, Scarlett Johansson —, Florence Pugh, Natasha, Yelena, " Johansson, Bryan Lourd, Johansson, Lourd, Steven Spielberg, Al Michaels, David Muir, Robin Roberts, Michael Strahan, Spielberg, Geoff Morrell, Alan Braverman, Alan Horn, Jayne Parker, Bochner, Claire Lee, Paul Richardson, Josh D'Amaro, Ron DeSantis, Morrell, Disney Animation —, George Floyd, Reba Saldanha, Reuters Chapek, DeSantis, Nicholas Maldonado, Octavio Jones, Chapek she'd, we're, " Morrell, CNN's Chris Wallace, Kristina Schake, John Skipper, Daniel steamrolled, Latondra Newton, Newton, Charles Krupa, Pitaro, NBCUniversal's Peacock, Dana Walden, Thomas Murphy, Josh Kushner, Privately, Schake, Barack Obama, Michelle Obama, Michelle Obama's, David Dee Delgado, Kara Swisher, hadn't, Netflix's, overhiring, McCarthy hadn't, Safra Catz, Kareem, DMED, Horacio Gutierrez, Justin Warbrooke, Alexia Quadrani, Bryan Castellani, Michael Buckner, Quadrani, Lindsay Lohan, Winnie, Nelson Peltz, Catz, Donald Trump's, they'd, Walden, Gutierrez, D'Amaro, Rich Polk, Walden he'd, Iger she'd, Mickey Mouse, Mark Rightmire, haven't, Indiana Jones, Halle Bailey, Ariel, Hamilton Faber, Rich Greenfield, Bob Iger's, — Mayer, McCarthy —, doesn't, they'll Organizations: Disney, Marvel, CNBC, Bloomberg, Getty, Walt Disney, Indiana University, Michigan State University, Shanghai Disney, Man, Hong Kong Disneyland, Walt Disney Parks, Resorts, Pixar, Fox, Chapek, Nike, General, Mastercard, Foreign Relations, University of Pennsylvania, Grogan, Disney's, Fallon, ABC, ESPN, ABC News, California Gov, New York Times, Disney confidants, Hollywood, Marvel Studios, Lucasfilm, Walt Disney Television, Walt Disney Studios, Hulu, HBO Max, Walt Disney Company, YouTube, Companies, Netflix, Apple, Disney Media, Entertainment, Stanford, Rights, Junior, petulant, Filmmagic, Brunswick Group, Covid, CAA, onetime Defense Department, Century Fox, Human, Florida Gov, Republican, Disney Animation, Reuters, Human Rights, HRC, Walt Disney World, Employees, American Foundation for Equal Rights, AP, Amazon Prime, Paramount, South Pacific, Capital Cities, Dow Jones, CVS, Kingdom, Variety, Trian Partners, Charter Communications, U.S, Comcast, Charter's, MediaNews, Orange, Allen, Co, Candle Media, Advisors Locations: Burbank , California, Midwestern, Brentwood, Los Angeles, Westlake Village, Iger, Hammond , Indiana, Shanghai, China, Hong, Fox, Willow Bay, Raleigh , North Carolina, Orlando, U.S, Hulu, Iger's Brentwood, coronavirus, Brunswick, Hollywood, Hawaii, Disney's, Marvel's, Anaheim , California, Montana, Florida, Rye , New Hampshire, Chapek, Hong Kong, California, missteps, South, DMED, Burbank, New York, India, Atlantic, Sun Valley , Idaho, America

☆ Disney's quarter wasn't clean, but we see evidence that CEO Bob Iger's turnaround plan is working
▼ + stars: | 2023-08-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Disney (DIS) reported fiscal third-quarter results after the closing bell Wednesday, and it was another mixed quarter even against low expectations. Still, there were enough pockets of optimism in the company's restructuring plan and streaming strategy to believe CEO Bob Iger's turnaround is working. Indeed, global Disney+ subscribers declined to 146.1 million from 157.8 billion, but nearly all of that was associated with Disney+ Hotstar and not Disney's core markets. Quarter over quarter, that loss of $512 million was narrower by $147 million. Thanks to the ongoing strength of Disney's international parks and cruise line business, Disney expects fourth-quarter operating margins at DPEP to exceed the prior year.

Persons: Bob Iger's, we've, Kevin Lansberry, Iger, Jim Cramer's, Jim Cramer, Jim, Bob Iger, CNBC's David Faber, David A Organizations: Disney, Refinitiv, DIS, Consumer, Hollywood, Indian Premier League cricket, Netflix, Disney Media, Entertainment, Linear Networks, ESPN, Penn Entertainment, Disney Parks, Walt Disney, Star Wars, CNBC, Allen, Grogan Locations: India, Florida, Europe, Canada, DMED, Sun Valley , Idaho

☆ Leaked memo reveals Disney's new finance structure as more layoffs loom, with a reported 15% of entertainment staffers to be cut
▼ + stars: | 2023-04-22 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +8 min

Disney's chief financial officer, Christine McCarthy, named a new finance team pulling together staff from both Disney Entertainment and ESPN. McCarthy shared the details with staff this week, naming Bryan Castellani as the new chief financial officer of Disney Entertainment and ESPN. Under Castellani, Lukas Wickart will continue to oversee finance for direct-to-consumer streaming business Disney+, ESPN+, Hulu, and Star. Karen Sack will oversee finance for our entertainment television businesses, including TV studios and ABC News finance, marketing, and networks planning. Jeff Grenn will oversee segment consolidation for Disney Entertainment, and finance in support of Aaron LaBerge's technology organization across Disney Entertainment and ESPN.

☆ Inside Disney it's 'Revenge of the Creatives' and 'Shields Up!' against outside foes as returned CEO Bob Iger is taking no prisoners
▼ + stars: | 2023-04-07 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +12 min

Since returning as Disney CEO, Bob Iger has vanquished foes and dumped many of predecessor Bob Chapek's hires. But it's a supercharged Bob Iger who is really taking command. "If I'm inside Bob's head coming back, after the downfall of Bob Chapek, this is all about taking no prisoners," said Will Schutte, a high-level executive coach. Disney World is scheduled to host a major conference on gay rights in September, according to the Miami Herald. Even if he wants to be the Bob Iger of old he can't be.

☆ Walt Disney Co begins 7,000 layoffs
▼ + stars: | 2023-03-27 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

LOS ANGELES, March 27(Reuters) - Walt Disney Co (DIS.N) on Monday began 7,000 layoffs announced earlier this year, as it seeks to control costs and create a more "streamlined" business, according to a letter Chief Executive Bob Iger sent to employees and seen by Reuters. Several major divisions of the company - Disney Entertainment, Disney Parks, Experiences and Products, and corporate - will be impacted, according to a person familiar with the matter. Iger said Disney would begin notifying the first group of employees who are impacted by the workforce reductions over the next four days. Josh D’Amaro, chair of Disney Parks, Experiences and Products, sent a memo to theme parks employees in February warning that the profitable division would experience cuts. Officials for two of the unions representing cast members at Walt Disney World Resorts in Orlando, Florida, said “guest-facing” services were not expected to be affected by the layoffs.

☆ What we lend in the shadows
▼ + stars: | 2023-03-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

"What We Do in the Shadows." New companies, especially ones that don't make any money are "pre-revenue," as VCs like to say, aren't easy to lend to. — there are also risks to letting investment firms lend billions of dollars without much oversight. Private-credit firms are looking to fill the lending gap left by Silicon Valley Bank's downfall. Inside Silicon Valley Bank's $70 billion loan portfolio that's now up for grabs.

☆ Disney CEO Bob Iger says ESPN will 'one day' be streaming only
▼ + stars: | 2023-02-09 | by ( Travis Clark | ) www.businessinsider.com time to read: +3 min

Disney CEO Bob Iger predicts that ESPN will "one day" shift to a streaming-only model. They include Disney Entertainment, which consists of the movie studios and streaming platforms; parks, experiences, and products; and ESPN, which encompasses both the linear ESPN network, and the ESPN+ streamer. "A so-called over-the-top model — a streaming model — it would be a phenomenal product for the sports fan," he added. When asked directly if ESPN will one day largely be a streaming service, Iger said that "there's an inevitability to it." "It created a huge divide between the creative side of the company — the content engines, movies and television — and the monetization and distribution side of the company," Iger said on Thursday.

☆ Disney CEO Bob Iger has 'very little room for maneuver' as he tackles layoffs, budget cuts, a company reorg, and questions over the future of Hulu and ESPN
▼ + stars: | 2023-02-07 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +11 min

Disney chief Bob Iger will speak Wednesday on his first quarterly earnings call since returning as CEO. Wall Street wants to see how Disney plans to boost profitability this year and whether it will trade ESPN or Hulu. Aside from a quick visit to Disney World in January, Bob Iger has been lying very low. Media investor Ross Gerber told Insider that Iger would get back to focusing on content rather than on the distribution mechanism. Iger tweeted a photo of himself at Disney World, dressed in a relaxed green cardigan and gray slacks as he posed with cast members on January 19.

☆ Inside Disney, 'nervous and anxious' execs brace for news of cost cuts and layoffs that could number in the thousands
▼ + stars: | 2023-02-07 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +3 min

Cost cutting reductions, including layoffs, are expected to hit Disney in the coming weeks and months. CEO Bob Iger has asked top execs to reorganize the former Disney Media Entertainment Distribution division. Disney employees are expecting wide layoffs as returning CEO Bob Iger moves to get costs in line. Internally, there's speculation that Disney will target people who work on nonpremium digital products for layoffs, one company insider said. Iger is expected to dismantle the division formerly known as DMED (Disney Media Entertainment Distribution) and shift P&L controls back to creative leaders and others.

☆ Disney investors await CEO Iger's revival plan with results on tap
▼ + stars: | 2023-02-07 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

LOS ANGELES, Feb 7 (Reuters) - Walt Disney Co (DIS.N) CEO Bob Iger is expected to discuss a turnaround plan on Wednesday, when the media company delivers its first quarterly results since the return of the executive who built the modern incarnation of Disney. "This is the right place to do it. It also endorsed Iger's leadership, adding that Disney generated a shareholder return of 554% under his previous tenure as CEO. That change resulted in the departure of Kareem Daniel, head of the Disney Media and Entertainment Distribution group created by Iger's predecessor, Bob Chapek, to consolidate budgeting and distribution for the studio's content. Analysts polled by FactSet estimate Disney+ will have 163 million subscribers, down modestly from the previous quarter.

☆ Wall Street analyst calls on Thursday including Tesla & Amazon
▼ + stars: | 2023-01-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Barclays names Starbucks a top 2023 pick Barclays said the coffee giant is a "best-in-class" stock for 2023. UBS names Chipotle a top 2023 pick UBS said the Mexican chain restaurant is defensive in a "tough macro." Bank of America downgrades PNC to underperform from neutral Bank of America said shares of PNC are trading at a premium. Bank of America downgrades Ally Financial to underperform from buy Bank of America said Ally is most exposed to auto loans. Bank of America reiterates Amazon as buy Bank of America said Amazon layoffs are "not a positive signal, but good for sentiment."

☆ 6 key Disney executives working with Bob Iger to remake former CEO Bob Chapek's business structure
▼ + stars: | 2022-12-18 | by ( Lucia Moses | Alison Brower | ) www.businessinsider.com time to read: +8 min

Disney CEO Bob Iger has returned to a company facing significant pressures on its linear and streaming businesses. He'll also need to unwind the business structure implemented in 2020 by his short-lived predecessor, Bob Chapek — which separated budgeting and distribution decisions from creative content development. Alan Bergman, chairman, Disney Studios ContentAlan Bergman. Disney Interactive/Reuters/Jonathan AlcornPitaro is close to Iger, has a long tenure at Disney, and has a foot in both creative and business sides. Dana Walden, chairman, Disney General Entertainment ContentDana Walden.

☆ Disney insiders are worried about how Bob Iger will remake former CEO Bob Chapek's business structure — here's what they hated about it and what they hope will change
▼ + stars: | 2022-12-01 | by ( Elaine Low | Lucia Moses | ) www.businessinsider.com time to read: +5 min

Disney CEO Bob Iger has said he will put "decision-making back in the hands of our creative teams." Under former CEO Bob Chapek's structure, distribution and budgets were taken out of the hands of creative execs. Chapek's 2020 restructuring — which focused the company's firepower on boosting streaming subscriber growth at Disney+, Hulu, and ESPN+ — meant additional layers of approval for studio and network execs at Disney General Entertainment (DGE) to get projects made. That meant hands were tied across Disney's studios and networks, from Disney+ to 20th Century to Hulu. For creative execs whose careers were built on their ability to balance storytelling and business needs, losing control over the latter was frustrating.

☆ 6 Disney executives Bob Iger will trust to drive his new strategy as he radically remakes the business structure implemented by former CEO Bob Chapek
▼ + stars: | 2022-11-30 | by ( Lucia Moses | Alison Brower | ) www.businessinsider.com time to read: +8 min

The returning CEO will have to unwind the business structure implemented by Bob Chapek while finding a successor. Disney CEO Bob Iger returns to a company facing significant pressures on its linear and streaming businesses. He'll also need to unwind the business structure implemented in 2020 by his short-lived predecessor, Bob Chapek — which separated budgeting and distribution decisions from creative content development. Alan Bergman, chairman, Disney Studios ContentAlan Bergman. Dana Walden, chairman, Disney General Entertainment ContentDana Walden.

☆ Disney warns restructuring could result in impairment charges
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

Nov 29 (Reuters) - Walt Disney Co (DIS.N) on Tuesday said it anticipates organizational and operational changes in the company that could result in impairment charges, according to a regulatory filing. The changes follow Bob Iger's return as Disney's chief executive officer. Disney said Iger's mandate is to put the company on the path for renewed growth. As he sets a strategic direction for the company, Disney said it anticipates changes in the coming months. The restructuring and change in business strategy, once determined, could result in impairment charges, the company said in its filing.

☆ Disney CEO Iger makes profitable streaming a priority
▼ + stars: | 2022-11-28 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/File PhotoNov 28 (Reuters) - Walt Disney Co (DIS.N) Chief Executive Bob Iger said on Monday one of his top priorities is to make the company's streaming business profitable. Iger is responsible for Disney's all-in embrace of streaming, and the launch of its marquee service, Disney+, but he acknowledged the measurement of success has changed. Disney joins a number of media companies seeking to grow their streaming services without sacrificing its film or television businesses. From a sound stage on Disney's lot, Iger said he returns to the company he led for 15 years with a sense of urgency. He offered no timing on the restructuring of the company's film and television distribution group, Disney Media and Entertainment Distribution.

☆ Disney CEO Bob Iger calls the drive to make streaming profitable a priority
▼ + stars: | 2022-11-28 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

☆ Bob Iger's fast start back as Disney's CEO is welcome news to shareholders like us
▼ + stars: | 2022-11-28 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

Bob Iger, who returned last week as CEO of Disney (DIS), told employees Monday he intends to maintain the company's current hiring freeze. As shareholders for the Club, we are pleased to see Iger taking steps to fix the missteps of his predecessor. The faster Iger can show improvement in terms of streaming profitability — or at least reduce losses in the near term — the faster we will see a turn higher in Disney's stock price. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Bob Iger, former CEO, The Walt Disney Company Scott Mlyn | CNBC

Bob Iger's return as Disney's CEO was met with surprise and relief by current and former employees. News of Bob Iger's return as Disney's CEO shocked the media world, but for many inside the company, the news touched off a mix of surprise as well as relief. Insider spoke with eight current and recently departed Disney employees about their reactions, hopes, and concerns for what's next. And there's still worry about where cuts will hit and how deep, and what's in store for Disney's streaming business. "Iger still has all the problems Chapek had — the company is bleeding money," said the first Disney insider.

[1/3] FILEPHOTO: Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. In his 15 years as Disney chief executive, Iger postponed his retirement four times, sidelining would-be successors. read more Part of his mandate, according to Disney, is to work with the board to develop a successor to lead the company. Chapek was among a shortlist of internal candidates vying for Iger's job, according to a source familiar with discussions. Another seen as a top contender was Kevin Mayer, Disney's longtime head of strategic planning who had shepherded the successful launch of Disney+, according to sources.

☆ Disney's media sales boss to exit in Iger shake-up
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

Nov 21 (Reuters) - A day after returning to the company, Walt Disney Co (DIS.N) Chief Executive Bob Iger moved to undo a corporate structure put in place by his hand-picked successor. Iger said the restructuring would result in changes to Disney Media & Entertainment Distribution, a unit former CEO Bob Chapek formed in October 2020 to centralize all film and television sales and distribution. Bank of America analyst Jessica Reif Ehrlich said Iger's decisive action resembles his management approach during his first stint as Disney's CEO. During that time, he quickly calmed tensions with Pixar Animation Studio's chief executive, Steve Jobs. Reporting by Dawn Chmielewski in Los Angeles; Editing by Mark Porter and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

Bob Iger's return as Disney's CEO was met with surprise and relief by current and former employees. News of Bob Iger's return as Disney's CEO shocked the media world, but for many inside the company, the news touched off a mix of surprise as well as relief. Insider spoke with eight current and recently departed Disney employees about their reactions, hopes, and concerns for what's next. One theme park designer and former Disney employee, Taylor A. Baird, said he "almost cried" upon hearing about Iger's return because of his past success running the company. And there's still worry about where cuts will hit and how deep, and what's in store for Disney's streaming business.

☆ Bob Iger: Here’s how much the CEO will make in his return to Disney
▼ + stars: | 2022-11-22 | by ( Frank Pallotta | ) edition.cnn.com time to read: +2 min

New York CNN Business —Bob Iger, who shocked the media world when he returned as CEO of Disney on Sunday, will once again be among the highest-paid executives in Hollywood. Iger will earn a $1 million base salary as he takes over Disney (DIS), according to a company filing with Securities and Exchange Commission. Disney’s streaming business lost $1.5 billion in the fourth quarter. On Monday, Iger made his first moves as CEO by reorganizing Disney’s content distribution structure. The CEO said in a memo to employees that Kareem Daniel, the chairman of Disney’s Media and Entertainment Distribution unit, will be leaving the company.

☆ Disney's chairman, Daniel, to exit in planned restructuring
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

Nov 21 (Reuters) - One day after returning to the company, Walt Disney Co (DIS.N) Chief Executive Bob Iger moved to undo a corporate structure put in place by his hand-picked successor. In an email to employees on Monday, seen by Reuters, Iger said that as a result of the restructuring, Chairman Kareem Daniel will leave the company. Iger said the restructuring would result in a reorganization of Disney Media & Entertainment Distribution, a unit former CEO Bob Chapek formed to handle all film and television sales and distribution. Iger said the change would put decision-making back into the hands of creative executives and asked a group of senior executives to reorganize the company. Reporting by Dawn Chmielewski in Los Angeles; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

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