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☆ Bob Iger says that if Ron DeSantis wants to end his feud with Disney, they could just sit down and 'discuss all of this'
▼ + stars: | 2023-04-14 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Disney CEO Bob Iger says there's a way for Ron DeSantis to settle his feud with Disney: Talk it out. Iger told Time he'd be happy to sit down with DeSantis to hash out their disagreements. "I do not view this as a going-to-mattresses situation for us," Iger told Time. Ron DeSantis to end his increasingly acrimonious feud with Disney: Come to the negotiating table and hash it out. On April 3, Iger said DeSantis' attempt to strip Disney of its tax status is "anti-business" and "anti-Florida."

☆ Disney names first brand chief as Iger refocuses on core properties
▼ + stars: | 2023-04-06 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

The Walt Disney Company is looking to update its image. On Thursday, the company named Asad Ayaz as its first-ever chief brand officer, a position that will require the Disney vet to create a singular vision of the company for marketing campaigns. The company also recently rolled out its first wave of layoffs as it seeks to cut 7,000 jobs this year. On Wednesday, the company tapped Joe Earley to take over the role of president of direct-to-consumer for Disney Entertainment. Ayaz will continue as president of marketing for Walt Disney Studios, where he has overseen marketing and publicity for the studio's films and TV series, as well as Disney+, since 2018.

☆ How Disney and DeSantis started feuding
▼ + stars: | 2023-04-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Ron DeSantis won praise from the right for retaliating against Disney for its CEO’s decision to (rather timidly) wade into the public discourse over a contentious state law. In that first round of Florida’s GOP vs The Walt Disney Company, DeSantis landed a body blow that ultimately cost Disney CEO Bob Chapek his job. DeSantis signed the bill into law, and then set his sights on punishing Disney for daring to challenge him. “This essentially makes Disney the government,” said Ron Peri, a DeSantis pick for the new board, last week. Last week, Iger announced Disney would lay off 7,000 people as part of a $5.5 billion cost-reduction plan.

[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 McDermidLOS ANGELES, April 3 (Reuters) - Walt Disney Co (DIS.N) Chief Executive Bob Iger fired back at Florida Republican Governor Ron DeSantis on Monday, saying his apparent retaliation against Disney for taking a position on legislation was "anti-business." Soon after, DeSantis and the Florida legislature moved to eliminate the virtual autonomy the company enjoyed in the running of Walt Disney World in Orlando. He also noted that Disney employs 75,000 people in the state and will welcome 50 million visitors to Disney World this year. "These efforts simply to retaliate for a position the company took sounds not just anti-business, but it sounds anti-Florida," Iger said.

Florida Governor Ron DeSantis speaks during an event on his nationwide book tour at Adventure Outdoors, the largest gun store in the country, on March 30, 2023 in Smyrna, Georgia. Disney didn't immediately respond to a request for comment about DeSantis' desire for a probe. The agreement was signed on Feb. 8, the day before the Florida House voted to put DeSantis in charge. The Florida governor took aim at Disney after the company publicly balked at Florida's HB 1557 law early last year. HB 1557, dubbed by critics as the "Don't Say Gay" bill, limits early education teachings on sexual orientation or gender identity.

☆ Swipe your badge or get fired? Employers and workers face a reckoning over returning to the office.
▼ + stars: | 2023-03-29 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +7 min

Employers are hardening demands for workers to return to the office and quashing resistance. Apple is tracking employee attendance and has threatened action against staff who don't work from the office at least three days a week. Today, though, as a recession looms, companies are rolling back perks and demanding workers return to their desks or risk termination. After 2020's COVID-19 lockdowns forced office workers to work from home, many of them discovered the benefits of remote work. Many of the same companies demanding workers return to the office have recently conducted mass layoffs — some more than once.

☆ Disney layoffs are expected to hit ABC News this week, sources say, with scores of roles to be eliminated following cuts from TV, engineering, and metaverse teams
▼ + stars: | 2023-03-29 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +5 min

Cuts at Disney's ABC News are coming before the end of the week, according to sources. Disney firings are expected to affect its ABC News division this week, according to two company insiders familiar with the situation. TV production and acquisition execs at Hulu, Freeform, and 20th Television were also impacted, according to a report in Deadline. Leaders will be communicating the news directly to the first group of impacted employees over the next four days. I want to thank each of you again for all your many achievements here at The Walt Disney Company.

☆ Disney layoffs will begin this week, CEO Bob Iger says in memo
▼ + stars: | 2023-03-27 | by ( Alex Sherman | ) www.cnbc.com time to read: +4 min

Disney will begin layoffs this week, the first of three rounds before the beginning of the summer that result in about 7,000 job cuts, according to a memo sent by Chief Executive Bob Iger. "This week, we begin notifying employees whose positions are impacted by the company's workforce reductions," Iger wrote in the memo, which was obtained by CNBC. "Leaders will be communicating the news directly to the first group of impacted employees over the next four days. This week, we begin notifying employees whose positions are impacted by the company's workforce reductions. I want to thank each of you again for all your many achievements here at The Walt Disney Company.

☆ 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.

☆ Here's the method Chick-fil-A workers use to keep their cool with angry customers
▼ + stars: | 2023-03-21 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

At Chick-fil-A, a doc says employees are trained to show compassion to "recover unsatisfied guests." Workers are told to focus on de-escalating tough situations using the HEARD model. This training document tells Chick-fil-A workers how to "recover" unhappy customers. Insider sourceArthur Greeno, one of the few multiunit Chick-fil-A franchisees in the US, wrote a LinkedIn article about the HEARD model in 2021. Are you a Chick-fil-A insider with insight to share?

☆ Guillermo del Toro wins best animated feature film for 'Pinocchio'
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

By Danielle BroadwayLOS ANGELES, March 12 (Reuters) - Mexican filmmaker Guillermo del Toro's "Pinocchio" won the Academy Award for best animated feature film on Sunday, the third Oscar of his career. Del Toro, 58, reimagines the classic story of Pinocchio, a wooden puppet who dreams of being a real boy, who is cared for by carver Geppetto. However, the story of the Netflix Inc (NFLX.O) film is set in Fascist Italy during the interwar period and World War Two. "Pinocchio" prevailed over other popular nominees A24's stop-motion film "Marcel the Shell With Shoes On" and the Walt Disney Co (DIS.N) 3D animated film "Turning Red." Del Toro has many accolades, including his 2018 Oscar wins for best picture and best director for "The Shape of Water."

☆ Ron DeSantis attacks liberals in California speech as he mulls White House run
▼ + stars: | 2023-03-05 | by ( Tim Reid | ) www.reuters.com time to read: +2 min

SIMI VALLEY, CA March 5 (Reuters) - Republican Florida Governor Ron DeSantis took his fight against liberalism deep into the Democratic territory of California on Sunday, part of a national road show as he lays the ground for an expected White House bid. While he has not yet announced a White House bid, one candidate who has - former Republican President Donald Trump - clearly views DeSantis as a major potential threat as the Republican nominating contest kicks into gear. Trump has already launched personal and political attacks on DeSantis as the race for the Republican Party's 2024 White House nomination begins to heat up. DeSantis also took aim at the Walt Disney Co (DIS.N), which opposes a Florida law that restricts classroom instruction of gender and sexual orientation. "There's a new sheriff in town," DeSantis declared, referring to what he has called the end of Disney's "corporate kingdom."

☆ Here are the most overbought and oversold stocks on Wall Street right now
▼ + stars: | 2023-03-04 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Some of the most overbought and oversold stocks on Wall Street right now include Bank of America and a water treatment company. Meanwhile, a stock with a 14-day RSI lower than 30 is considered oversold, a signal of poor sentiment around the firm. According to a CNBC Pro screen of FactSet data, here are the 10 most overbought stocks in the S & P 500. Ecolab was among the most overbought stocks in the S & P 500. Other overbought names include Clorox Co . and Mosaic Co. We also screened for the most oversold stocks in the benchmark stock index.

☆ Why I Stood Up to Disney
▼ + stars: | 2023-03-01 | by ( Ron Desantis | ) www.wsj.com time to read: +1 min

On Monday, I signed the law ending the Walt Disney Co.’s self-governing status over 43 square miles in central Florida, an area almost as big as Miami. Disney’s special arrangement, which dates to 1967, was an indefensible example of corporate welfare. It even allowed Disney to build a nuclear power plant and to use eminent domain to seize private property outside the district’s boundaries. While special districts are common in Florida, Disney’s deal was conspicuous in the massive benefits it conferred. Disney’s self-governing status endured because the company’s unrivaled political power in Florida made its arrangement virtually untouchable.

☆ Warner Bros Discovery posts quarterly loss after restructuring charges
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +3 min

Feb 23 (Reuters) - Warner Bros Discovery (WBD.O) Inc on Thursday posted a $2.1 billion loss in its fourth quarter, reflecting ongoing charges related to the restructuring of the merged media companies. Warner Bros Discovery reported a loss of 86 cents per share, versus expectations of a 21-cent-per-share loss. Warner Bros Discovery said the months-long merger-related restructuring, which resulted in thousands of layoffs and canceled film and television projects, is complete. Warner Bros Discovery also said it has paid down $7 billion in debt since April. Like other media companies, Warner Bros Discovery has yet to turn a profit on its HBO Max and Discovery+ streaming services, though the company has reduced losses from them.

☆ Why is Universal making a live-action 'How to Train Your Dragon'? These charts may explain
▼ + stars: | 2023-02-18 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

In this article CMCSA Follow your favorite stocks CREATE FREE ACCOUNTStill from Universal and Dreamworks' "How to Train Your Dragon 2." For the last decade, the Walt Disney Company has been transforming its classic animated features into live-action theatrical and streaming features. Earlier this week, Universal said it would be doing the same for one of its own animated franchises: How to Train Your Dragon. What is, perhaps, most notable about Disney's live-action remakes is how much of the ticket sales were generated from international markets. This is something Universal is likely also keyed into when creating the live-action version of "How to Train Your Dragon."

☆ ‘Unscripted’ Review: Sex, Lies and Viacom
▼ + stars: | 2023-02-14 | by ( Edward Kosner | ) www.wsj.com time to read: +1 min

Sumner Redstone, who died in 2020 at the age of 97, was one of the killer whales thriving in the swirling currents of the modern media. A hulking old man with dyed red hair and a maimed right hand, he was a mega-billionaire with a ravenous appetite for power, riches—and sex. At his peak at the turn of the century, he controlled Viacom; Paramount Pictures; the National Amusements movie-theater chain; the CBS network, MTV, Comedy Central and Nickelodeon; and the Simon & Schuster publishing house. Then the end came in a crescendo of recrimination, litigation and family turmoil. Imagine a mash-up of “King Lear” and “Weekend at Bernie’s,” the 1989 movie comedy about two scamps who prop up a cadaver so they can enjoy a weekend at his beach house, with Redstone starring in both title roles.

Disney CEO Bob Iger announced a new business structure Wednesday and further details emerged Thursday. ESPN and ESPN+ will form a separate unit, led by Jimmy Pitaro. Hollywood is already busy sharing memes about Bergman and Walden and how they will share and compete for power. As part of the cuts, Iger has directed his reports to lay off 7,000 staffers. A Thursday morning press release outlined all the shared services units that will now come under Bergman, Walden, and Pitaro.

☆ Florida to place leadership of Disney's special operating district under DeSantis' control
▼ + stars: | 2023-02-10 | by ( Rob Wile | ) www.cnbc.com time to read: +3 min

One of those procedures concerns the district's ability to raise taxes and issue bonds to build and maintain infrastructure serving the Walt Disney World Resort. And the district will be renamed: From the Reedy Creek Special Improvement District to the Central Florida Tourism Oversight District. "Until Governor DeSantis acted, the Walt Disney Company maintained sole control over the District," a spokesman for the governor said in a statement. Disney is monitoring the legislation, Jeff Vahle, president of Walt Disney World Resort, said in a statement. But construction still appears to be progressing on a Disney office campus in Lake Nona, roughly 20 miles east of Disney World.

[1/3] The signage at the main gate of The Walt Disney Co. is pictured in Burbank, California, May 7, 2012. This is a win for all shareholders," a spokesperson for Peltz's Trian Fund Management said on Thursday. The decision, first reported by CNBC, came only hours after Disney reported earnings that topped Wall Street expectations and Iger outlined a corporate restructuring that addresses many of Peltz' criticisms. Disney's stock price climbed 3.6% in Thursday trading. "Bob Iger has a long, strong track record which provides confidence he will manage this transition for Disney."

[1/3] The signage at the main gate of The Walt Disney Co. is pictured in Burbank, California, May 7, 2012. This is a win for all shareholders," a spokesperson for Peltz's Trian Fund Management said on Thursday. The decision, first reported by CNBC, came only hours after Iger announced earnings that topped Wall Street expectations and announced a corporate restructuring that addresses many of Peltz' criticisms. Trian owns a nearly $1 billion stake in Disney and had criticized the company for a bungled succession planning, overpaying for new assets and runaway costs. Reporting by Tiyashi Datta in Bengaluru; Editing by Devika Syamnath, Mark Porter and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

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's Bob Iger says he was 'overconfident' and 'dismissive' in his first stint as CEO, now has more 'self-awareness'
▼ + stars: | 2023-02-09 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Bob Iger's first stint as CEO of The Walt Disney Company saw the company acquire Pixar, Marvel and Star Wars as he turned Disney into the biggest name in franchise entertainment. But the success took a toll on his leadership abilities. In an interview with CNBC's "Squawk on the Street", Iger reflected on his time as CEO and identified flaws he believed he developed as he became more and more successful. "I thought it caused me to be a little bit more dismissive of other people's ideas." The 72-year-old Iger, who officially retired on Dec. 31, 2021, was only away from Disney for the first 11 months of 2022 before the company's board decided to replace his successor, Bob Chapek, and asked Iger to take his old job back.

☆ Inside the Disney drama as CEO Bob Iger announces massive layoffs and a reorg that dismantles the structure under predecessor Bob Chapek
▼ + stars: | 2023-02-08 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Bob Iger returned to Disney as CEO in November, ending Bob Chapek's rocky tenure. In one of the most dramatic reversals in corporate history, the Walt Disney Co. board reinstated Bob Iger as CEO in November, ousting his predecessor Bob Chapek. Disney had just reported a $1.5 billion loss in its streaming business on a November 8 earnings call. Wall Street faulted him for waiting until after the 3Q earnings call to announce that layoffs were planned, for example. Disney, which in December launched its own ad-supported Disney+ offering, has enjoyed strong streaming growth, but Wall Street cares more about profitability now.

☆ Disney CEO Bob Iger wastes no time putting turnaround plans in place after a solid quarter
▼ + stars: | 2023-02-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

Bottom Line The Disney quarter had a lot to offer for the bulls. In the current quarter, management expects operating results to improve by $200 million, pegging losses at around $800 million, which is in line with estimates on Factset. By extension, Disney is reorganizing into three core business segments: Disney Entertainment, an ESPN division, and a Parks, Experiences and Products unit. Iger wants Disney to be more efficient, and he believes this overhaul will make for a more cost-effective and streamlined approach to its operations. Bob Iger, former CEO, The Walt Disney Company Scott Mlyn | CNBC

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