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☆ Disney is set to report earnings after the bell — here's what to expect
▼ + stars: | 2023-05-10 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

Writers walk the picket line on the second day of the television and movie writers' strike outside Disney Studios in Burbank, California on May 3, 2023. A writers strike, a feud in Florida and ongoing company-wide layoffs — there is a lot more than quarterly earnings for CEO Bob Iger and the Walt Disney Company to address on Wednesday. As the pandemic era fades, Disney has staged a rapid financial recovery within most of its divisions, from theme parks to theatrical entertainment. Additionally, the company is already seeing rippling effects from the ongoing writers strike, including the production shutdowns of Marvel Studios' "Blade," which was set to begin filming in Atlanta next month, as well as the Disney+ Star Wars series "Andor." There is also the third wave of expected layoffs within the company, that industry experts expect to see announced soon.

☆ DeSantis Signs Into Law Latest Wrinkle in Disney Feud
▼ + stars: | 2023-05-05 | by ( Brooks Barnes | ) www.nytimes.com time to read: +1 min

On Friday, Mr. DeSantis signed a bill into law giving a board that oversees government services at Disney World the ability to void development agreements that had already been approved for the resort. At least for now, the new law is a relatively minor development in the ongoing conflict between Mr. DeSantis and Disney over the potential expansion of the company’s 25,000-acre theme park resort near Orlando. That is because Disney and the board have already sued each other over the development agreements; the matter is essentially on hold, awaiting to be addressed by the judicial system. The development agreements were approved by a previous, Disney-controlled iteration of the board. The current board, made up of members appointed by Mr. DeSantis this year, contends that the agreements are illegal, and voted to nullify them.

☆ Fact Check-Florida’s DeSantis did not order National Guard to block Disney entrances
▼ + stars: | 2023-05-02 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Florida Governor Ron DeSantis did not order the U.S. National Guard to block all entrances to Disney World, contrary to claims circulating online that stem from a satirical website. The posts include a link to an article by Mouse Trap News (archive.is/7d2BP) published on April 23, 2023, which makes the claim that DeSantis called the National Guard to block all entrances to Disney World. “For those not aware, Governor DeSantis and the Walt Disney Company have been feuding for the past few months,” the article reads in part. Reuters has reported on tensions between DeSantis and Disney (here), with DeSantis attacking Disney for being “woke” in public remarks and Disney accusing DeSantis and his supporters of punishing the company for exercising freedom of speech when Disney criticized the state’s decision to ban discussions of sexuality and gender identity in classrooms. The claim that Florida Governor Ron DeSantis ordered the National Guard to block all entrances to Disney World originated from a satirical website.

☆ These are the 7 best large U.S. cities for starting a new business—New York and D.C. don't fare well
▼ + stars: | 2023-04-28 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +4 min

Launching a small business is a challenge, especially these days. The top four cities on the ranking are all Floridian, largely due to criteria like low unemployment and relatively low corporate tax rates. Florida ranked 11th on CNBC's own list of the top U.S. states for businesses in 2022, for similar reasons. For those who don't want to move to Florida, cities like Durham and Boise offer bona fide alternatives. Join CNBC's Small Business Playbook virtually on May 4th, where entrepreneurs will share advice and tips on how to handle economic uncertainty, inflation and more so your business can succeed for the short-term and the long-term.

☆ Disney's lawsuit against Gov. Ron DeSantis has teeth, legal experts say
▼ + stars: | 2023-04-27 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +6 min

Disney's lawsuit accused Florida officials of infringing on its constitutional rights. Ron DeSantis culminated in a stunning lawsuit on Wednesday, where the entertainment giant said state officials retaliated against it, citing a lawmaker who said "You kick the hornet's nest, things come up." Schultz said Disney could even seek in the lawsuit to depose DeSantis, who is widely expected to run for president. It targets The Walt Disney Company." The position articulated by state officials — including that the bill's focus extends beyond Disney — shows Disney will likely keep drawing on more pointed material to support its retaliation claims, said Schutz.

☆ DeSantis Allies Vote to Nullify Disney’s Control of Florida Resort
▼ + stars: | 2023-04-26 | by ( Brooks Barnes | ) www.nytimes.com time to read: +1 min

Ron DeSantis of Florida to oversee government services at Disney World voted on Wednesday to nullify two agreements that gave The Walt Disney Company vast control over expansion at the 25,000-acre resort complex. Mr. Langley and another board lawyer said Disney violated Florida law in multiple ways, including by failing to fully notify the public of the actions it took. The nullification — the latest in a string of actions against Disney by Mr. DeSantis and his allies — is likely to result in legal fireworks. Disney, the state’s largest taxpayer, has signaled a willingness to fight any attempt to revoke the agreements, which it contends were done in compliance with Florida law. One of the agreements gives Disney the ability to build 14,000 additional hotel rooms, a fifth theme park and three smaller parks.

☆ Nate Silver, FiveThirtyEight Founder, Expects to Depart ABC News Amid Layoffs
▼ + stars: | 2023-04-25 | by ( Livia Albeck-Ripka | ) www.nytimes.com time to read: 1 min

Nate Silver, the founder and editor of the data-driven news site FiveThirtyEight, said on Tuesday that he expected to leave ABC News as layoffs rattle its parent organization, the Walt Disney Company. Mr. Silver, who started FiveThirtyEight in 2008, and was affiliated with The New York Times from 2010 to 2013, said on Twitter that the Disney layoffs had “substantially impacted” the site. “I am sad and disappointed to a degree that’s kind of hard to express right now. We’ve been at Disney almost 10 years,” he wrote. “My contract is up soon and I expect that I’ll be leaving at the end of it.”Mr. Silver noted that he had begun having conversations about other opportunities, because he had been worried about “an outcome like this.”

☆ GOP lawmaker leading Florida legislature's effort to rein in Disney was a company stock-holder until the DeSantis feud
▼ + stars: | 2023-04-21 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +11 min

One key ally, Sen. Blaise Ingoglia, previously held Disney stock but said he sold on principle. Ron DeSantis claw back control of Walt Disney World's special tax district was once a Walt Disney Company investor, annual disclosures show. Ingoglia told Insider that he manages his stocks himself, and that they were long-term holds with a retirement or brokerage account. The financial ties to Disney underscore the company's largess and influence in Florida, where it's the state's biggest attraction. Disney CEO Bob Iger told Time he would be willing to sit down with DeSantis over the feud.

☆ Donald Trump Sides With Disney
▼ + stars: | 2023-04-19 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Review & Outlook: What started as a row over parental rights legislation has resulted in the Walt Disney Company losing special privileges in Florida—and serves as a wake-up call for other CEOs. Images: Reuters/AP/Miami Herald Composite: Mark KellyThe only thing Democrats enjoy watching more than Ron DeSantis ’s escalating tiff with Disney is the daily Donald Trump show. In Tuesday’s double feature, the former President sided with the woke Mickey Mouse to score points over the Florida Governor. “Disney’s next move will be the announcement that no more money will be invested in Florida because of the Governor,” Mr. Trump wrote on Truth Social. “In fact, they could even announce a slow withdrawal or sale of certain properties, or the whole thing.

☆ GOP critics pile on DeSantis over Disney feud: 'I don't think Ron DeSantis is a conservative'
▼ + stars: | 2023-04-19 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Ron DeSantis' ongoing feud against Disney has drawn criticism for months. "I don't think Ron DeSantis is a conservative based on his actions towards Disney," Chris Christie said. DeSantis' political rival, former President Donald Trump posted Tuesday on Truth Social that DeSantis is being "absolutely destroyed by Disney." "I just don't think — it's not good for Governor DeSantis. I don't think it's good for the Republican party."

☆ 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.

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.

[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.

☆ 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.

☆ 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?

☆ Morgan Stanley's guide for tech investors playing the end of this bear market — and the start of the next bull
▼ + stars: | 2023-03-07 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Tech (and media and telecom) investors should start preparing their buy lists now ahead of a bear market low, Morgan Stanley said. Given this, the strategist offered an investment guide for the period before, during and after the stock market trough. Netflix was among the names Morgan Stanley recommended for the period prior to the market bottom. Meanwhile, after the bear market low, Morgan Stanley said cyclicals, lower quality and value names have the most "impressive outperformance." Meanwhile, for investors trading through the trough and into the bull market, names such as Salesforce and Microsoft are buying opportunities, Morgan Stanley said.

☆ 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 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."

☆ 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.

☆ 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.

☆ 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

LOS ANGELES, Jan 23 (Reuters) - Los Angeles Angels owner Arte Moreno on Monday said he was no longer interested in selling the team he has owned for 20 years after announcing in August that he was looking for buyers. "This offseason we committed to a franchise record player payroll and still want to accomplish our goal of bringing a World Series Championship back to our fans. The Angels won their lone World Series in 2002, shortly before Moreno purchased it, and the team has struggled in recent years with its last postseason appearance coming in 2014. "Despite strong buyer interest in the Angels, Arte Moreno's love of the game is most important to him," Manfred said. Reporting by Rory Carroll in Los Angeles; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

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