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The two appointments would temporarily expand Disney’s board of directors from 11 to 13 members. Photo: fred prouser/ReutersWalt Disney ’s board appointed Morgan Stanley Chief Executive James Gorman and former Sky CEO Jeremy Darroch as new directors as it faces the prospect of two separate shareholder challenges. Disney said the appointments reflect its commitment to a strong board focused on long-term performance, strategic growth initiatives, succession planning and increasing shareholder value. Chief Executive Bob Iger in recent weeks has told investors and employees that the company has begun building its future after a period of fixing problems.
Persons: fred prouser, Reuters Walt, Morgan, James Gorman, Jeremy Darroch, Disney, Bob Iger Organizations: Reuters, Reuters Walt Disney ’, Morgan Stanley, Sky
Marvel’s Bomb Won’t Blow Up Hollywood’s Formula
  + stars: | 2023-11-14 | by ( Dan Gallagher | ) www.wsj.com   time to read: +1 min
Photo illustration: Ryan TrefesWanted by Hollywood: World-famous intellectual property that no one has yet thought to make into a movie. Disney ’s Marvel Cinematic Universe has been the most successful movie franchise in history, grossing nearly $30 billion globally over 33 films to date. But this past weekend provided the latest sign that the lucrative stable of superheroes is in need of some rescuing. “The Marvels” grossed a mere $47 million for its domestic box-office debut—a record low for the franchise and a major disappointment even against other recent Marvel movies that have been showing signs of strain. The nine other Marvel movies that have opened since the pandemic closed movie theaters in 2020 have averaged a domestic opening weekend of about $136 million, according to data from Box Office Mojo.
Persons: Ryan Trefes Organizations: Star, Hollywood, Marvel, Office Mojo
‘The Marvels’ features an all-female trio of stars, including Teyonah Parris as Captain Monica Rambeau. Photo: Laura Radford/Disney/Marvel Studios/Associated Press“The Marvels,” Disney ’s latest superhero feature, landed with a thud at the box office only days after Chief Executive Bob Iger called for an overhaul of the entertainment company’s studio business. A sequel to 2019’s hit “Captain Marvel” from Disney’s Marvel Studios, the new movie features an all-female trio of stars in Brie Larson, Teyonah Parris and Iman Vellani. It sold $47 million in tickets in North America over its opening weekend, making it the weakest debut performance of any movie in the so-called Marvel Cinematic Universe.
Persons: Teyonah Parris, Monica Rambeau ., Laura Radford, Bob Iger, Marvel ”, Brie Larson, Iman Vellani Organizations: Disney, Marvel Studios, Associated Press, Disney’s Marvel Studios Locations: North America
Disney’s stock price has recently tumbled, under pressure from cord-cutting and the high cost of streaming. Photo: fred prouser/ReutersWalt Disney ’s new finance chief steps into the role with a noteworthy victory: His former company fended off an attack from activist investor Nelson Peltz . Disney on Monday named Hugh Johnston , the longtime finance chief of PepsiCo , as its next chief financial officer. Johnston joins Disney as the company faces activist pressure from Peltz, whose firm, Trian Fund Management, has built a sizable stake in the company and is threatening a proxy battle. Disney’s stock price has recently tumbled, under pressure from ongoing cord-cutting and the high cost of streaming.
Persons: fred prouser, Reuters Walt, Nelson Peltz, Hugh Johnston, Johnston Organizations: Reuters, Reuters Walt Disney ’, Disney, PepsiCo, Trian Fund Management
The NBA wants to secure a big increase in media-rights fees—to help pay its star players—but its biggest TV partners aren’t looking to pony up big spending increases. Photo: Rocky Widner/NBAE/Getty Images)The stars of the National Basketball Association are taking to the court as a new season begins next week. Behind the scenes, the league has started talks to secure the billions of dollars in media-rights fees that will help pay their huge salaries. As the NBA enters its first media negotiations in a decade, its biggest partners, Disney ’s ESPN and Warner Bros. Discovery ’s TNT—which together pay about $2.6 billion a year— aren’t looking to pony up big spending increases.
Persons: Rocky Organizations: NBA, National Basketball Association, Disney ’, ESPN, Warner Bros, TNT
Paul Rudd and Jonathan Majors star in ‘Ant-Man and the Wasp: Quantumania.’Disney ’s smallest superhero doesn’t appear to have much legs. That is a growing problem for the Mouse House, and for those showcasing its fare. “Ant-Man and the Wasp: Quantumania” is the 23rd theatrical movie Disney has produced and released from its Marvel franchise. That doesn’t count the three “Spider-Man” movies produced by Sony that are considered part of the franchise’s cinematic universe, nor the five Marvel movies that came out prior to 2012’s “The Avengers,” which marked the first Disney-produced theatrical release after acquiring Marvel for $4.3 billion in 2009. Still, Disney’s end hasn’t been a bad haul; its own Marvel movies to date have grossed more than $22 billion in worldwide box-office, according to the industry-tracking site the Numbers.
‘Avatar: The Way of Water’ was shown on over 1,500 IMAX screens worldwide. “Avatar: The Way of Water” made waves at the box office, but lingering concerns over the coronavirus tempered ticket sales in China, where the makers of the sci-fi epic were hoping to score a major hit. Directed by James Cameron and distributed by Walt Disney Co.’s 20th Century Studios, the film earned $435 million in theaters around the world in its debut, the second-highest global opening-weekend gross of 2022, trailing only “Doctor Strange in the Multiverse of Madness,” from Disney ’s Marvel Studios.
Disney Needs ‘Chainsaw’ Bob Iger
  + stars: | 2022-11-22 | by ( Holman W. Jenkins | ) www.wsj.com   time to read: 1 min
The weekend was an interesting one in the streaming wars. If it’s possible for there to be a run on a chief executive officer the way there can be a run on a bank, that’s what happened to Disney ’s Bob Chapek . Disney brought back his predecessor, Bob Iger , partly to deal with giant losses in streaming. In the New York Times , meanwhile, appeared the longest yet disquisition on the travails of WarnerMedia under previous owner AT&T and new owner Discovery. Though short on analysis and long on narrative, the epic reporting nicely illustrated traditional Hollywood’s flailing inability to cope with a technological revolution in how filmed entertainment is distributed.
Robert Iger just got a $12 billion vote of confidence. He will need all of it. That is how much Disney ’s market value jumped Monday morning on the surprise news that Mr. Iger is returning to the Magic Kingdom’s throne. In a statement Sunday night, the company’s board said he will take back the chief executive officer role for two years “to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term.” Bob Chapek , Mr. Iger’s handpicked successor, was unceremoniously escorted from the stage without so much as a quote in the press release.
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