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☆ Disney CEO Bob Iger says company is ready to start building
▼ + stars: | 2023-11-28 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

The Walt Disney Company CEO Bob Iger attends the Nominees Luncheon for the 95th Oscars in Beverly Hills, California, U.S. February 13, 2023. REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsNov 28 (Reuters) - Walt Disney (DIS.N) CEO Bob Iger told employees that he faced a "myriad of challenges" upon returning to the company but remained upbeat about its prospects. "I feel that we’ve just emerged from a period of a lot of fixing to one of building again," Iger said. The meeting marks the one-year anniversary of Iger's first town hall since rejoining the company as chief executive in November 2022. Disney has undergone a transformation under Iger, who restructured the company and streamlined operations to make the business more cost effective.

Persons: Bob Iger, Mario Anzuoni, Walt Disney, “, ” Iger, I've, Iger, Alan Bergman, Dana Walden, Jimmy Pitaro, Josh D’Amaro, Nelson Peltz, Bob Chapek, Scarlett Johansson, Florida Governor Ron DeSantis, Disney, Dawn Chmielewski, Nick Zieminski Organizations: Walt Disney Company, REUTERS, New Amsterdam Theatre, Disney Entertainment, ESPN, Walt, New York Times, Disney, Florida Governor, Thomson Locations: Beverly Hills , California, U.S, Iger's, Burbank , California, New York

HONG KONG (AP) — Hong Kong Disneyland opened its first Frozen-themed attraction on Monday, with thousands of eager visitors turning up to experience the new rides, some lining up for hours to get an early start. Now that Chinese tourists are venturing abroad again after the pandemic, the pandemic, the new attraction is meant to be a game changer for a theme park that has run losses for years. Some of the hundreds of Disney fans who lined up hours ahead of time were dressed like characters from Frozen. “The World of Frozen is really well-designed and beautiful,” said Darmanic, whose family was making its first visit to the Hong Kong theme park. Hong Kong has been beefing up the park to try and draw more visitors.

Persons: ”, Josh D’Amaro, Bryan Darmanic, Darmanic, Winnie Ip, ” Ip Organizations: Hong Kong Disneyland, Disney, Tokyo DisneySea, Paris Locations: HONG KONG, Hong Kong, California, Macao, Shanghai, Tokyo, Arendelle

New York CNN —Disney is greatly expanding its investment into theme parks and cruises, the company said Tuesday. The investment comes at a time the company is facing revenue challenges in its streaming services, movie and television assets — almost everywhere but its international theme parks. The theme park, which was announced in 2019, is set to include restaurants, hotels and, of course, rides. It will become the third theme park within the Universal Orlando Resort, stepping up its rivalry with Walt Disney World’s four theme parks. Trouble at homeDisney said Tuesday that it is focused on “expanding and enhancing” its theme parks, in the US and internationally, along with its cruise lines.

Persons: That’s, Walt Disney, Ricardo Ramirez Buxeda, Alicia Stella, didn’t, ”, Josh D’Amaro, Wakanda, Disney, Horacio Villalobos, Corbis, Kevin Lansberry, Bob Iger, ” Iger, Florida Governor Ron DeSantis, “ Disney, Stella Organizations: New, New York CNN, Disney, Disney Parks, SEC, Universal Orlando Resort, Orlando Sentinel, Tribune, Service, Star Wars, Getty, Parks, Walt Disney, Florida Governor Locations: New York, Parks, Orlando , Florida, Orlando, Anaheim , California, Asia, ”, Florida

☆ The Week in Business: An Attempt to Ban TikTok
▼ + stars: | 2023-05-21 | by ( Marie Solis | ) www.nytimes.com time to read: +3 min

The legislation seeks to cut off access by targeting mobile app stores, like the Apple Store and Google Play, and prohibit them from offering TikTok in Montana. If the stores continue allowing people to download the app, the companies could face fines, as could TikTok. The ban is set to take effect on Jan. 1, but it is already facing a legal challenge. A ‘Truly Sorry’ C.E.O. Though there was no explicit mention of Mr. DeSantis in the memo announcing the decision, Mr. D’Amaro noted “changing business conditions.”Image Credit... Giulio BonaseraWhat’s Next?

☆ Disney Pulls Plug on $1 Billion Development in Florida
▼ + stars: | 2023-05-18 | by ( Brooks Barnes | ) www.nytimes.com time to read: +1 min

Ron DeSantis of Florida “anti-business” for his scorched-earth attempt to tighten oversight of the company’s theme park resort near Orlando. Last month, when Disney sued the governor and his allies for what it called “a targeted campaign of government retaliation,” the company made clear that $17 billion in planned investment in Walt Disney World was on the line. “Does the state want us to invest more, employ more people, and pay more taxes, or not?” Robert A. Iger, Disney’s chief executive, said on an earnings-related conference call with analysts last week. On Thursday, Mr. Iger and Josh D’Amaro, Disney’s theme park and consumer products chairman, showed that they were not bluffing, pulling the plug on a nearly $1 billion office complex that was scheduled for construction in Orlando. It would have brought more than 2,000 jobs to the region, with $120,000 as the average salary, according to an estimate from the Florida Department of Economic Opportunity.

☆ 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.

☆ DeSantis' hand-picked Walt Disney World oversight board meets for the first time
▼ + stars: | 2023-03-08 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +4 min

REUTERS/Octavio JonesMarch 8 (Reuters) - A new board controlling Walt Disney World's special taxing district in Florida will meet for the first time on Wednesday, as Governor Ron DeSantis' hand-picked group gets ready to end the entertainment giant's "corporate kingdom." Nothing in the language of the legislation creating the Central Florida Tourism Oversight District gives the board of supervisors authority to direct Walt Disney Co's (DIS.N) content. "The District board members are now in place and will be examining all of the needed actions to get back on track," Bryan Griffin, a spokesman for the governor, said on Tuesday. Legislators in Florida passed a bill in February giving DeSantis effective control over a board that oversees municipal services and development in a special district that encompasses Walt Disney World resort. “Shameful to see Disney continue to use children as pawns to advance their WOKE political agenda,” Ziegler tweeted.

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."

☆ Disney Adds Lower Priced Theme Park Access and Perks
▼ + stars: | 2023-01-11 | by ( Robbie Whelan | Jacob Passy | ) www.wsj.com time to read: 1 min

Disney fans have grown increasingly critical of the parks business as the company’s theme parks in California and Florida have grown more expensive and more complicated to book. Robert Iger is making a peace offering to Disney ‘s most fervent fans, in what amounts to his first major change to Walt Disney Co.’s theme-parks business since returning to the company as chief executive in November. Effective immediately, holders of annual passes to Disney’s Orlando-area Walt Disney World Resort will be able to visit the theme parks during afternoon hours without making a reservation, the company’s head of parks Josh D’Amaro said in a memo to staff Tuesday.

☆ 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?

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