Disney CEO Bob Iger gave a mea culpa for big losses incurred while launching streaming platforms like Disney+ during an investor conference appearance on Wednesday.
“As we got into the streaming business in a very, very aggressive way, we tried to tell too many stories. Basically we invested too much, way ahead of possible returns. It’s what led to streaming ending up as a $4 billion loss,” Iger told the MoffettNathanson Media, Internet & Communications Conference during a session that was webcast.
Iger addressed a falling out with his hand-picked successor, former Disney CEO Bob Chapek, whose tenure he called out for lavish and misplaced content spending. “It was clear to me that our structure was not working, because we were removing accountability from those that were basically investing the most capital was a mistake,” he argued.
Iger said Chapek had moved the P&l (profit and losses) responsibility to the studio’s distribution arm,...
“As we got into the streaming business in a very, very aggressive way, we tried to tell too many stories. Basically we invested too much, way ahead of possible returns. It’s what led to streaming ending up as a $4 billion loss,” Iger told the MoffettNathanson Media, Internet & Communications Conference during a session that was webcast.
Iger addressed a falling out with his hand-picked successor, former Disney CEO Bob Chapek, whose tenure he called out for lavish and misplaced content spending. “It was clear to me that our structure was not working, because we were removing accountability from those that were basically investing the most capital was a mistake,” he argued.
Iger said Chapek had moved the P&l (profit and losses) responsibility to the studio’s distribution arm,...
- 5/15/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Tickets went on sale for Disney and Pixar's Inside Out 2 earlier today, and we're now just one month away from watching the long-awaited sequel to the 2015 hit movie. This follow-up will welcome different Emotions to now-teenager Riley's mind, and a newly released clip shows the returning fan favourites getting acquainted with Anxiety.
Earlier this year, director Kelsey Mann promised Anxiety is going to stir things up within headquarters. "Anxiety, voiced by Maya Hawke, might be new to the crew, but she’s not really the type to take a back seat. That makes a lot of sense if you think about it in terms of what goes on inside all our minds."
Pixar has also shared some new posters for the movie featuring a mix of characters and we'd guess that one final trailer will head our way in the coming weeks.
The studio has struggled since the pandemic,...
Earlier this year, director Kelsey Mann promised Anxiety is going to stir things up within headquarters. "Anxiety, voiced by Maya Hawke, might be new to the crew, but she’s not really the type to take a back seat. That makes a lot of sense if you think about it in terms of what goes on inside all our minds."
Pixar has also shared some new posters for the movie featuring a mix of characters and we'd guess that one final trailer will head our way in the coming weeks.
The studio has struggled since the pandemic,...
- 5/15/2024
- ComicBookMovie.com
Jimmy Kimmel is, without fail, the highlight of TV’s upfronts week every year; 2024 was no exception.
The “Jimmy Kimmel Live!” host left no stone unturned in his annual profane and ruthless takedown of everything Disney (and everyone else in Hollywood) wants to sell to advertisers. This year that included the new Disney+ bundle with Hulu and Max, Netflix finally kissing the asses of said advertisers, the AMPTP, “The Golden Bachelor,” and finding a catchy new name for that sports-streaming service Disney is working on with Fox and Warner Bros. Discovery.
He started things off with a huge announcement: Bob Iger’s successor at Disney as CEO is… an artificially intelligent Bob Iger clone. AIger.
“Bob isn’t going anywhere ever again anywhere,” Kimmel said. “We uploaded him to the cloud so that we can live in peace and prosperity under the watchful AI of the Iger. All hail AIger!
The “Jimmy Kimmel Live!” host left no stone unturned in his annual profane and ruthless takedown of everything Disney (and everyone else in Hollywood) wants to sell to advertisers. This year that included the new Disney+ bundle with Hulu and Max, Netflix finally kissing the asses of said advertisers, the AMPTP, “The Golden Bachelor,” and finding a catchy new name for that sports-streaming service Disney is working on with Fox and Warner Bros. Discovery.
He started things off with a huge announcement: Bob Iger’s successor at Disney as CEO is… an artificially intelligent Bob Iger clone. AIger.
“Bob isn’t going anywhere ever again anywhere,” Kimmel said. “We uploaded him to the cloud so that we can live in peace and prosperity under the watchful AI of the Iger. All hail AIger!
- 5/14/2024
- by Tony Maglio and Brian Welk
- Indiewire
Patty Jenkins Confirms Wonder Woman 3 Is Dead; Says DC Studios Are "Not Interested" In The Character
Despite Gal Gadot's insistence that she'll return as Diana Prince, all signs point to her time as Wonder Woman having ended. James Gunn has already cast a new Superman and is searching for Batman, so there's no reason to believe he'd keep the Dceu actress around.
The plug was pulled on Wonder Woman 3 pretty soon after DC Studios was formed as it didn't fit into their direction for the new Dcu.
That meant Wonder Woman and Wonder Woman 1984 writer/director Patty Jenkins was given her marching orders, and she confirmed the planned threequel isn't happening during a recent interview.
Asked if the movie has been scrapped, the filmmaker said, "Yeah, for the time being, but probably easily forever." Asked if another director would take her place, Jenkins responded, "No, they’re not interested in doing any Wonder Woman for the time being."
"It’s not an easy task, what’s going on with DC,...
The plug was pulled on Wonder Woman 3 pretty soon after DC Studios was formed as it didn't fit into their direction for the new Dcu.
That meant Wonder Woman and Wonder Woman 1984 writer/director Patty Jenkins was given her marching orders, and she confirmed the planned threequel isn't happening during a recent interview.
Asked if the movie has been scrapped, the filmmaker said, "Yeah, for the time being, but probably easily forever." Asked if another director would take her place, Jenkins responded, "No, they’re not interested in doing any Wonder Woman for the time being."
"It’s not an easy task, what’s going on with DC,...
- 5/8/2024
- ComicBookMovie.com
Disney’s two entertainment streamers hit the profitability milestone a full two quarters earlier than expected.
There have been a lot more hits than misses for Disney CEO Bob Iger recently. Iger is fresh off a big win in a proxy fight initiated by activist investor Nelson Peltz, and this week he gets to announce to the world that his entertainment streaming services Disney+ and Hulu have finally achieved a goal that Iger has been pushing them toward since he rejoined the company in 2022: profitability. Disney’s streamers aren’t completely out of the woods in terms of generating a steady profit yet, but they have vindicated Iger’s strategy for them since he returned to the chairman seat 18 months ago.
Key Details: Disney+ and Hulu combined to show a profit of $47 million in the most recent quarter. ESPN+ lost $65 million but improved its losses from the year-ago quarter.
There have been a lot more hits than misses for Disney CEO Bob Iger recently. Iger is fresh off a big win in a proxy fight initiated by activist investor Nelson Peltz, and this week he gets to announce to the world that his entertainment streaming services Disney+ and Hulu have finally achieved a goal that Iger has been pushing them toward since he rejoined the company in 2022: profitability. Disney’s streamers aren’t completely out of the woods in terms of generating a steady profit yet, but they have vindicated Iger’s strategy for them since he returned to the chairman seat 18 months ago.
Key Details: Disney+ and Hulu combined to show a profit of $47 million in the most recent quarter. ESPN+ lost $65 million but improved its losses from the year-ago quarter.
- 5/7/2024
- by David Satin
- The Streamable
Disney topped Wall Street forecasts for its fiscal second quarter and inched closer to the long-awaited milestone of streaming profitability.
Revenue for the quarter ended March 30 increased to $22.1 billion from $21.8 billion in the year-earlier period, the company reported Tuesday. Excluding items, diluted earnings per share for the quarter increased to $1.21 from 93 cents. Analysts had been expecting revenue of $20.53 billion and earnings per share of $1.02.
The entertainment direct-to-consumer operation, consisting of Disney+ and Hulu, finished the quarter in the black ahead of schedule with operating income of $47 million. The two had a loss of $587 million in the same period of 2023.
ESPN+ reported a loss of $18 million, which was considerably narrower than the year-ago loss of $659 million.
Related: ESPN Programming Coming To Disney+ By Year-End; Bob Iger Calls It “First Step” Toward Flagship Sports Launch In 2025
The company said it still expects its combined streaming businesses to be profitable by the fiscal fourth quarter,...
Revenue for the quarter ended March 30 increased to $22.1 billion from $21.8 billion in the year-earlier period, the company reported Tuesday. Excluding items, diluted earnings per share for the quarter increased to $1.21 from 93 cents. Analysts had been expecting revenue of $20.53 billion and earnings per share of $1.02.
The entertainment direct-to-consumer operation, consisting of Disney+ and Hulu, finished the quarter in the black ahead of schedule with operating income of $47 million. The two had a loss of $587 million in the same period of 2023.
ESPN+ reported a loss of $18 million, which was considerably narrower than the year-ago loss of $659 million.
Related: ESPN Programming Coming To Disney+ By Year-End; Bob Iger Calls It “First Step” Toward Flagship Sports Launch In 2025
The company said it still expects its combined streaming businesses to be profitable by the fiscal fourth quarter,...
- 5/7/2024
- by Dade Hayes
- Deadline Film + TV
Deadline’s Most Valuable Blockbuster tournament is back. While studios during Covid wildly embraced the theatrical day-and-date model when cinemas were closed, they soon realized there’s nothing more profitable than a theatrical release and the downstreams that come with it. If anything, theatrical is the advertisement for a movie’s longevity in subsequent home entertainment windows. Entering the conversation in 2023 were the streamers, such as Apple, who have also realized the necessity of theatrical to eventize their movies. The financial data pulled together here for Deadline’s Most Valuable Blockbuster Tournament is culled by seasoned and trusted sources.
Everyone likes a trend in the movie business, but this one perhaps not so much. Disney for the first time in Deadline’s Most Valuable Blockbuster Tournament history dominates the annual bombs section, claiming four of the five (top? bottom?) spots on our 2023 list. Typically, the studio owns a majority of...
Everyone likes a trend in the movie business, but this one perhaps not so much. Disney for the first time in Deadline’s Most Valuable Blockbuster Tournament history dominates the annual bombs section, claiming four of the five (top? bottom?) spots on our 2023 list. Typically, the studio owns a majority of...
- 5/3/2024
- by Anthony D'Alessandro
- Deadline Film + TV
Deadline’s Most Valuable Blockbuster tournament is back. While studios during Covid wildly embraced the theatrical day-and-date model when cinemas were closed, they soon realized there’s nothing more profitable than a theatrical release and the downstreams that come with it. If anything, theatrical is the advertisement for a movie’s longevity in subsequent home entertainment windows. Entering the conversation in 2023 were the streamers, such as Apple, who have also realized the necessity of theatrical to eventize their movies. The financial data pulled together here for Deadline’s Most Valuable Blockbuster Tournament is culled by seasoned and trusted sources.
The Film
Guardians of the Galaxy Vol. 3
Disney/Marvel Studios
Hindsight is 20/20 when it comes to the success of Disney/Marvel Studios’ Guardians of the Galaxy Vol. 3. The movie repped James Gunn’s final ride with Marvel Studios as the filmmaker took on the co-chief role at Warner Bros’ DC Studios; in fact,...
The Film
Guardians of the Galaxy Vol. 3
Disney/Marvel Studios
Hindsight is 20/20 when it comes to the success of Disney/Marvel Studios’ Guardians of the Galaxy Vol. 3. The movie repped James Gunn’s final ride with Marvel Studios as the filmmaker took on the co-chief role at Warner Bros’ DC Studios; in fact,...
- 4/26/2024
- by Anthony D'Alessandro
- Deadline Film + TV
On a visit to Anaheim in April, a crowd of parkgoers wearing Loki horns and Ratatouille chef hats cheered as a robotic Spider-Man swung through the air and slid upside down to the ground at Disney California Adventure’s Avengers Campus. Across the way, at Disneyland, the wait times for the sleek battle ride Rise of the Resistance at Star Wars: Galaxy’s Edge stretched to 90 minutes. Undeterred, fans in Jedi costumes clustered to wait beneath the looming cliffs of the fabricated Star Wars planet.
The demand for the newer franchises is unsurprising, but in an interview with The Hollywood Reporter, Josh D’Amaro, chairman of Disney Experiences, points out that even Mickey & Minnie’s Runaway Railway, a new attraction based on two of its oldest characters, is drawing big numbers.
“What I’m proud of is that all of our stories continue to resonate as strongly today as they ever have before,...
The demand for the newer franchises is unsurprising, but in an interview with The Hollywood Reporter, Josh D’Amaro, chairman of Disney Experiences, points out that even Mickey & Minnie’s Runaway Railway, a new attraction based on two of its oldest characters, is drawing big numbers.
“What I’m proud of is that all of our stories continue to resonate as strongly today as they ever have before,...
- 4/24/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Aaron LeBerge. (Courtesy photo)
Penn Entertainment has hired a former streaming executive away from the Walt Disney Company to serve as its new chief technology officer.
Aaron LeBerge spent more than two decades at Disney, where he most-recently served in the role of President and Chief Technology Officer for Disney Entertainment and ESPN.
At Penn, LeBerge will be responsible for overseeing the technical aspects of the company’s entertainment, casino gambling and sports betting businesses. He starts in the role in early July, subject to certain regulatory approvals, the company said in a statement.
“We are thrilled to have someone of Aaron’s caliber join our Penn executive team,” Jay Snowden, the President and CEO of Penn Entertainment, said on Monday. “Having overseen a global organization of thousands of engineers, product developers, designers, technologists, and data scientists that created some of the largest scale and most successful media properties in the world,...
Penn Entertainment has hired a former streaming executive away from the Walt Disney Company to serve as its new chief technology officer.
Aaron LeBerge spent more than two decades at Disney, where he most-recently served in the role of President and Chief Technology Officer for Disney Entertainment and ESPN.
At Penn, LeBerge will be responsible for overseeing the technical aspects of the company’s entertainment, casino gambling and sports betting businesses. He starts in the role in early July, subject to certain regulatory approvals, the company said in a statement.
“We are thrilled to have someone of Aaron’s caliber join our Penn executive team,” Jay Snowden, the President and CEO of Penn Entertainment, said on Monday. “Having overseen a global organization of thousands of engineers, product developers, designers, technologists, and data scientists that created some of the largest scale and most successful media properties in the world,...
- 4/22/2024
- by Matthew Keys
- The Desk
The moment that it started to seem possible that Bob Iger could lose the battle to keep dissident shareholder Nelson Peltz off the Disney board was on March 21, when leading proxy advisory firm Institutional Shareholder Services announced its support for the activist investor. Days later, the California Public Employees Retirement System (CalPERS) took it a step further, saying it was voting its shares not only for Peltz but for his associate, former Disney CFO Jay Rasulo. Now that it’s over, it’s fair to ask: What were they thinking?
Iss explained its decision by rattling off a string of issues, but the big one was succession, which had been notoriously botched with the Bob Chapek interregnum after Iger had postponed his retirement no fewer than four times. “Dissident nominee Peltz, as a significant shareholder, could be additive to the succession process, providing assurance to other investors that the board...
Iss explained its decision by rattling off a string of issues, but the big one was succession, which had been notoriously botched with the Bob Chapek interregnum after Iger had postponed his retirement no fewer than four times. “Dissident nominee Peltz, as a significant shareholder, could be additive to the succession process, providing assurance to other investors that the board...
- 4/10/2024
- by Kim Masters
- The Hollywood Reporter - Movie News
Bob Iger took a victory lap Thursday morning, a day after Disney fended off activist investor Nelson Peltz in a fierce proxy battle. In an interview on CNBC, the CEO said the fight had one positive: getting the company in closer touch with investors as it lobbied hard for its board slate. He also said succession is top of mind and a new CEO would require a decent transition period, as well as commented on current (and perhaps former) adversaries from Ike Perlmutter to Elon Musk and Florida Gov. Ron DeSantis.
Peltz didn’t have much strategically to offer Disney but did successfully press on one big misstep: succession. The billionaire activist investor lost his bid for a board seat, but did get the support of 30% of shareholders at yesterday’s annual meeting. The voting and tally marked the end of a bitter and expensive months-long fight.
“Clearly shareholders care...
Peltz didn’t have much strategically to offer Disney but did successfully press on one big misstep: succession. The billionaire activist investor lost his bid for a board seat, but did get the support of 30% of shareholders at yesterday’s annual meeting. The voting and tally marked the end of a bitter and expensive months-long fight.
“Clearly shareholders care...
- 4/4/2024
- by Jill Goldsmith
- Deadline Film + TV
A day after Disney declared victory over activist investor Nelson Peltz, CEO Bob Iger said the board is proceeding with “urgency” in trying to identify the next chief executive with the “distraction” of the proxy fight over.
“This was decisive in terms of how shareholders voted,” Iger said in an appearance Thursday morning on CNBC from Disney’s Burbank, Calif., headquarters, about the results of the April 3 meeting.
Succession “is the board’s No. 1 priority,” Iger said, saying the board’s search committee to find a CEO successor met seven times in 2023 and plans to meet even more frequently this year. “They’re treating it with a sense of urgency because it is so important,” Iger said. The board is “taking it very, very seriously” because “I’m not going to be here forever.” Iger declined to provide a timeline for the selection of a new CEO; his contract extension...
“This was decisive in terms of how shareholders voted,” Iger said in an appearance Thursday morning on CNBC from Disney’s Burbank, Calif., headquarters, about the results of the April 3 meeting.
Succession “is the board’s No. 1 priority,” Iger said, saying the board’s search committee to find a CEO successor met seven times in 2023 and plans to meet even more frequently this year. “They’re treating it with a sense of urgency because it is so important,” Iger said. The board is “taking it very, very seriously” because “I’m not going to be here forever.” Iger declined to provide a timeline for the selection of a new CEO; his contract extension...
- 4/4/2024
- by Todd Spangler
- Variety Film + TV
After Wednesday’s annual shareholder meeting — featuring CEO Bob Iger successfully fending off dissident investors, led by Trian’s Nelson Peltz — Wall Street experts are gaming out the next steps Disney may take as it plots out room for growth.
Analysts took stock of the vote’s impact on and outlook for Disney, its stock, and its management team, led by Iger. Succession planning and the need to optimize streaming and pay-tv profits are among the key priorities they outlined.
Disney shares closed down 3.1 percent at $118.98 on Wednesday, but were up slightly in Thursday pre-market trading.
MoffettNathanson analysts Michael Nathanson and Robert Fishman maintained their “buy” rating on Disney shares, but increased their stock price target by $10 to $135, citing “a higher market multiple and increased conviction in our full-year 2025 earnings per share estimates.”
Addressing the stock’s outlook, they shared: “While it might have admittedly taken longer than we first...
Analysts took stock of the vote’s impact on and outlook for Disney, its stock, and its management team, led by Iger. Succession planning and the need to optimize streaming and pay-tv profits are among the key priorities they outlined.
Disney shares closed down 3.1 percent at $118.98 on Wednesday, but were up slightly in Thursday pre-market trading.
MoffettNathanson analysts Michael Nathanson and Robert Fishman maintained their “buy” rating on Disney shares, but increased their stock price target by $10 to $135, citing “a higher market multiple and increased conviction in our full-year 2025 earnings per share estimates.”
Addressing the stock’s outlook, they shared: “While it might have admittedly taken longer than we first...
- 4/4/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
In the end, Bob Iger didn’t have to break a sweat to fend off Nelson Peltz.
No question, Disney did have to spend tens of millions of dollars to fight the proxy battle with the activist investor, which came to a head on Wednesday with the Mouse House’s annual shareholders meeting. From the start, it was an extreme long shot that a majority of shareholders (or a majority of those who opted to cast a virtual vote) would turn against Iger and install Trian Partners founder Peltz and former Disney executive Jay Rasulo as board members, in opposition to Disney’s preferred slate of 12 incumbent directors.
On Wednesday, Iger was in prime form as Disney’s avuncular statesman, addressing the meeting in a pre-taped video filmed — where else? — at the happiest place on earth, aka Disneyland Resort in Anaheim, Calif. Disney’s shareholder meeting was entirely virtual this year,...
No question, Disney did have to spend tens of millions of dollars to fight the proxy battle with the activist investor, which came to a head on Wednesday with the Mouse House’s annual shareholders meeting. From the start, it was an extreme long shot that a majority of shareholders (or a majority of those who opted to cast a virtual vote) would turn against Iger and install Trian Partners founder Peltz and former Disney executive Jay Rasulo as board members, in opposition to Disney’s preferred slate of 12 incumbent directors.
On Wednesday, Iger was in prime form as Disney’s avuncular statesman, addressing the meeting in a pre-taped video filmed — where else? — at the happiest place on earth, aka Disneyland Resort in Anaheim, Calif. Disney’s shareholder meeting was entirely virtual this year,...
- 4/3/2024
- by Cynthia Littleton
- Variety Film + TV
Disney's long, costly fight to deny activist investor Nelson Peltz seats on the company's board of directors is over (for now). During today's annual shareholders meeting, Disney announced that investors had voted to reelect all 12 current board members. Peltz's Trian Partners investment firm had sought two seats (one for Peltz and another for Jay Rasulo), but according to Disney their bid fell short by a "significant margin."
Vote totals will be released later today, but specifying the apparent magnitude of Peltz's defeat feels like a bit of an endzone dance by CEO Bob Iger (who's repeatedly called this battle a "distraction" for the company) as well as a warning to the 81-year-old malcontent to knock it off.
Peltz has been waging this war since last year, and in theory, had cause to question the direction of the company given its precipitous stock slide in the wake of former CEO Bob Chapek's departure.
Vote totals will be released later today, but specifying the apparent magnitude of Peltz's defeat feels like a bit of an endzone dance by CEO Bob Iger (who's repeatedly called this battle a "distraction" for the company) as well as a warning to the 81-year-old malcontent to knock it off.
Peltz has been waging this war since last year, and in theory, had cause to question the direction of the company given its precipitous stock slide in the wake of former CEO Bob Chapek's departure.
- 4/3/2024
- by Jeremy Smith
- Slash Film
Asked whether Disney would stay out of politics, CEO Bob Iger said that the company is not out to “advance any kind of agenda,” but rather is focused on entertainment.
“Our job is to entertain first and foremost, and by telling great stories, we continue to have a positive impact on the world and inspire future generations, just as we’ve done for over 100 years. Disney has always been and will continue to be a source of hope, joy and optimism for people of all ages. We’re committed to telling stories that reflect the world around us and using those stories to entertain people from all walks of life,” Iger said during the company’s annual shareholder meeting Wednesday.
“I’ve always believed that we have a responsibility to do good in the world. But we know our job is not to advance any kind of agenda. So as...
“Our job is to entertain first and foremost, and by telling great stories, we continue to have a positive impact on the world and inspire future generations, just as we’ve done for over 100 years. Disney has always been and will continue to be a source of hope, joy and optimism for people of all ages. We’re committed to telling stories that reflect the world around us and using those stories to entertain people from all walks of life,” Iger said during the company’s annual shareholder meeting Wednesday.
“I’ve always believed that we have a responsibility to do good in the world. But we know our job is not to advance any kind of agenda. So as...
- 4/3/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Scoring a big and costly win Wednesday against Nelson Peltz’s second attempt to get on the Disney board, Bob Iger was both gracious and a little biting in victory.
Once the vote results were announced this morning during Disney’s annual meeting of shareholders, the past and present CEO address the virtual meeting to thank “shareholders for your trust and confidence in the Disney board and management and the ambitious strategy we’re implementing across our businesses to build for the future.”
Of course, having had to fend off a direct challenge to his leadership from Peltz’s Trian Group and Ike Perlmutter behind the scenes, Iger also took a swing at his vanquished rivals today.
“Now that this distracting proxy contest is behind us, we’re here to focus 100% of our attention on our most important priorities, growth and value creation for our shareholders and creative excellence for our consumers,...
Once the vote results were announced this morning during Disney’s annual meeting of shareholders, the past and present CEO address the virtual meeting to thank “shareholders for your trust and confidence in the Disney board and management and the ambitious strategy we’re implementing across our businesses to build for the future.”
Of course, having had to fend off a direct challenge to his leadership from Peltz’s Trian Group and Ike Perlmutter behind the scenes, Iger also took a swing at his vanquished rivals today.
“Now that this distracting proxy contest is behind us, we’re here to focus 100% of our attention on our most important priorities, growth and value creation for our shareholders and creative excellence for our consumers,...
- 4/3/2024
- by Dominic Patten
- Deadline Film + TV
It’s official: Disney shareholders shot down activist investor Nelson Peltz’s effort to win seats on the Mouse House’s board of directors. Investors voted to reelect all 12 of the company-backed board members, including CEO Bob Iger, ending the most expensive corporate proxy fight in history.
The voting results for Disney board candidates were announced Wednesday at the company’s 2024 meeting of shareholders, held virtually. Peltz, who heads investment firm Trian Partners, failed to get enough votes in his favor to clinch a board seat.
Horacio Gutierrez, Disney’s senior EVP, chief legal and compliance officer, who oversaw the proceedings at the meeting, said that the preliminary vote tabulations showed Disney’s 12 directors had won reelection by a “substantial margin” over the candidates nominated by Trian and a smaller investment firm, Blackwells Capital. (See the full list below.) He said the final vote counts will be disclosed in subsequent meeting minutes.
The voting results for Disney board candidates were announced Wednesday at the company’s 2024 meeting of shareholders, held virtually. Peltz, who heads investment firm Trian Partners, failed to get enough votes in his favor to clinch a board seat.
Horacio Gutierrez, Disney’s senior EVP, chief legal and compliance officer, who oversaw the proceedings at the meeting, said that the preliminary vote tabulations showed Disney’s 12 directors had won reelection by a “substantial margin” over the candidates nominated by Trian and a smaller investment firm, Blackwells Capital. (See the full list below.) He said the final vote counts will be disclosed in subsequent meeting minutes.
- 4/3/2024
- by Todd Spangler
- Variety Film + TV
Elon Musk is backing Nelson Peltz in the proxy battle for the future of Disney.
Onlookers are waiting with baited breath after the bitter voting to select Disney’s board of directors closed last night, with CEO Bob Iger’s nominees appearing likely to win out. However, that didn’t stop X/Twitter and Tesla owner Musk taking to social media this morning to provide his two cents.
He wrote: “Nelson Peltz should definitely be on the Disney board! He would help reform the company, improve the quality of product and generally serve in the best interests of shareholders, as he has done at many other companies. This would significantly improve Disney’s share price.”
Nelson Peltz should definitely be on the Disney board!
He would help reform the company, improve the quality of product and generally serve in the best interests of shareholders, as he has done at many other companies.
Onlookers are waiting with baited breath after the bitter voting to select Disney’s board of directors closed last night, with CEO Bob Iger’s nominees appearing likely to win out. However, that didn’t stop X/Twitter and Tesla owner Musk taking to social media this morning to provide his two cents.
He wrote: “Nelson Peltz should definitely be on the Disney board! He would help reform the company, improve the quality of product and generally serve in the best interests of shareholders, as he has done at many other companies. This would significantly improve Disney’s share price.”
Nelson Peltz should definitely be on the Disney board!
He would help reform the company, improve the quality of product and generally serve in the best interests of shareholders, as he has done at many other companies.
- 4/3/2024
- by Jesse Whittock
- Deadline Film + TV
The minutes are ticking down to the close of Disney’s bitter proxy fight with Nelson Peltz, whose attempt to scale the board is a direct challenge to CEO Bob Iger.
Barring any hanging chads, results from voting for members of the board of directors will be revealed Wednesday at the company’s annual shareholder meeting at 1 p.m. Et / 10 a.m. Pt. (Polls officially close at 11:59 p.m. Et tonight.) Iger fought, and authorized the spending of $40 million, to quash the interloper activist investor, but win or lose, he invited the fight by botching succession.
Fumbled regime change became Peltz’s rallying cry, far more compelling that his thoughts on strategy. It’s the reason the race was so hard-fought. Iss, the most influential proxy advisory service, dealt perhaps the biggest blow to the company by backing Peltz in a move reminiscent of its withholding votes from then-ceo...
Barring any hanging chads, results from voting for members of the board of directors will be revealed Wednesday at the company’s annual shareholder meeting at 1 p.m. Et / 10 a.m. Pt. (Polls officially close at 11:59 p.m. Et tonight.) Iger fought, and authorized the spending of $40 million, to quash the interloper activist investor, but win or lose, he invited the fight by botching succession.
Fumbled regime change became Peltz’s rallying cry, far more compelling that his thoughts on strategy. It’s the reason the race was so hard-fought. Iss, the most influential proxy advisory service, dealt perhaps the biggest blow to the company by backing Peltz in a move reminiscent of its withholding votes from then-ceo...
- 4/3/2024
- by Dade Hayes, Jill Goldsmith and Dominic Patten
- Deadline Film + TV
The entertainment industry and Wall Street will be paying close attention to Disney’s annual shareholder meeting on Wednesday (April 3).
That is when the 12-person board will finally be revealed after a protracted proxy battle between the company led by CEO Bob Iger and the billionaire activist investor Nelson Peltz, who co-founded Trian Fund Management which controls approximately $3bn of Disney stock.
Each side has mounted multi-million dollar campaigns to persuade institutional and individual or retail shareholders to elect their preferred board directors. The latter group may play a key role in the vote as they collectively hold some 40% of...
That is when the 12-person board will finally be revealed after a protracted proxy battle between the company led by CEO Bob Iger and the billionaire activist investor Nelson Peltz, who co-founded Trian Fund Management which controls approximately $3bn of Disney stock.
Each side has mounted multi-million dollar campaigns to persuade institutional and individual or retail shareholders to elect their preferred board directors. The latter group may play a key role in the vote as they collectively hold some 40% of...
- 4/2/2024
- ScreenDaily
In the months leading up to the settlement between Disney and Gov. Ron DeSantis, both sides were growing weary.
At the top of the year, Disney lost a pivotal First Amendment lawsuit claiming that the Republican governor violated its free speech rights by assuming control of the special tax district that encompasses the entertainment giant’s 25,000-acre resort. The ruling further endangered plans to invest $17 billion over the next decade to fuel growth at Walt Disney World.
DeSantis wasn’t fairing any better. He lost hundreds of millions of dollars in economic development when Disney, calling him “anti-business,” yanked plans for an office complex in Orlando that would’ve added more than 2,000 high-paying jobs and faced the prospect of the company abandoning — or at least delaying — further investment. DeSantis and Disney had a lot to gain by pursuing the litigation, primarily unilateral developmental control of the company’s sprawling theme park.
At the top of the year, Disney lost a pivotal First Amendment lawsuit claiming that the Republican governor violated its free speech rights by assuming control of the special tax district that encompasses the entertainment giant’s 25,000-acre resort. The ruling further endangered plans to invest $17 billion over the next decade to fuel growth at Walt Disney World.
DeSantis wasn’t fairing any better. He lost hundreds of millions of dollars in economic development when Disney, calling him “anti-business,” yanked plans for an office complex in Orlando that would’ve added more than 2,000 high-paying jobs and faced the prospect of the company abandoning — or at least delaying — further investment. DeSantis and Disney had a lot to gain by pursuing the litigation, primarily unilateral developmental control of the company’s sprawling theme park.
- 3/28/2024
- by Winston Cho
- The Hollywood Reporter - Movie News
Proxy advisor Egan-Jones on Wednesday became the second independent firm to support activist Nelson Peltz’s effort to secure seats on the Disney board.
The endorsement follows that of Iss earlier this month, which was a notable win for Peltz’s Trian Fund Management as it is the biggest advisory firm and highly influential. While Iss backed Peltz alone, Egan-Jones is supports both the billionaire activist investor and former Disney executive Jay Rasulo, Trian’s other nominee to the Disney board. The firm is recommending shareholders withhold support for Maria Elena Lagomasino and Michael B.G. Froman, who are members of Disney’s slate of nominees.
Disney shareholders’ votes will be tallied at company’s annual meeting next Wednesday.
“We see very little downside and a lot of upsides in putting the Trian nominees on the board,” Egan-Jones said in an announcement. The firm cited an “apparent lack” of a...
The endorsement follows that of Iss earlier this month, which was a notable win for Peltz’s Trian Fund Management as it is the biggest advisory firm and highly influential. While Iss backed Peltz alone, Egan-Jones is supports both the billionaire activist investor and former Disney executive Jay Rasulo, Trian’s other nominee to the Disney board. The firm is recommending shareholders withhold support for Maria Elena Lagomasino and Michael B.G. Froman, who are members of Disney’s slate of nominees.
Disney shareholders’ votes will be tallied at company’s annual meeting next Wednesday.
“We see very little downside and a lot of upsides in putting the Trian nominees on the board,” Egan-Jones said in an announcement. The firm cited an “apparent lack” of a...
- 3/27/2024
- by Dade Hayes
- Deadline Film + TV
After a triumphant time in the 2010s, things are uncertain at the Walt Disney Company right now. With audience interest in the Marvel Cinematic Universe fading and "Star Wars" having become a primarily streaming franchise, there's a feeling that the company may have carelessly set fire to its money trees.
Disney's changing leadership suggests it won't be staying the course. In 2022, former Disney CEO Bob Iger resumed his post from Bob Chapek, a simultaneous vote of no confidence in his successor yet a stamp of approval for Iger's own tenure (he first served as Disney CEO from 2005 to 2020). Since his return, Iger has implicitly criticized Chapek's decision to go all-in on Disney+ originals, spreading the company's main offerings (Marvel and Pixar especially) too thin.
Another shake-up happened in February 2024, when Sean Bailey stepped down as president of Walt Disney Studios Motion Picture Production. His successor, David Greenbaum (formerly of Searchlight Pictures...
Disney's changing leadership suggests it won't be staying the course. In 2022, former Disney CEO Bob Iger resumed his post from Bob Chapek, a simultaneous vote of no confidence in his successor yet a stamp of approval for Iger's own tenure (he first served as Disney CEO from 2005 to 2020). Since his return, Iger has implicitly criticized Chapek's decision to go all-in on Disney+ originals, spreading the company's main offerings (Marvel and Pixar especially) too thin.
Another shake-up happened in February 2024, when Sean Bailey stepped down as president of Walt Disney Studios Motion Picture Production. His successor, David Greenbaum (formerly of Searchlight Pictures...
- 3/26/2024
- by Devin Meenan
- Slash Film
Former Disney CEO Says ESPN Doesn't Need Strategic Partners to Launch New Streamer, But is He Right?
Speaking with CNBC, ex-Disney chair Bob Chapek also said that streaming is about a customized experience. Strategic partners can help ESPN create that experience.
Bob Chapek has mostly kept his head down since being booted from the top job at Disney in late 2022. Chapek was fired in part because the Disney board did not have faith in his plans to turn around the company’s flagging streaming operations, which lost billions of dollars per quarter at the time. Bob Iger returned to his former position as CEO after Chapek’s ouster, and as Iger’s former protégé, it would hardly be surprising for Chapek to be in lockstep with his former boss’s moves. But in a new interview with CNBC which aired last week, Chapek differed from his old mentor regarding Disney’s hope to find a strategic partner for ESPN when launching its new sports streaming platform.
Disney...
Bob Chapek has mostly kept his head down since being booted from the top job at Disney in late 2022. Chapek was fired in part because the Disney board did not have faith in his plans to turn around the company’s flagging streaming operations, which lost billions of dollars per quarter at the time. Bob Iger returned to his former position as CEO after Chapek’s ouster, and as Iger’s former protégé, it would hardly be surprising for Chapek to be in lockstep with his former boss’s moves. But in a new interview with CNBC which aired last week, Chapek differed from his old mentor regarding Disney’s hope to find a strategic partner for ESPN when launching its new sports streaming platform.
Disney...
- 3/25/2024
- by David Satin
- The Streamable
During the ongoing proxy battle between Disney and Trian Partners and Blackwell Capital, the Walt Disney Company repeatedly focused mostly on only one threat: the idea that it was Bob Iger who was in danger of replacement. Now, Nelson Peltz and Trian have put out a statement once again refuting that notion.
According to Peltz, they have no desire to replace Bob Iger, and Disney continues to focus on that when they know it isn’t true. Yet they say nothing about the board members they want to replace.
Trian is trying to replace board members Maria Elena Lagomasino and Michael B.G. Froman. Bob Iger keeps complaining that Peltz and Jay Rasulo lack media experience, but neither Logomasino nor Froman have it either.
In fact, they have the fewest qualifications on the board, and they both lack in streaming, direct-to-consumer, and media. These are the same reasons Bob Iger...
According to Peltz, they have no desire to replace Bob Iger, and Disney continues to focus on that when they know it isn’t true. Yet they say nothing about the board members they want to replace.
Trian is trying to replace board members Maria Elena Lagomasino and Michael B.G. Froman. Bob Iger keeps complaining that Peltz and Jay Rasulo lack media experience, but neither Logomasino nor Froman have it either.
In fact, they have the fewest qualifications on the board, and they both lack in streaming, direct-to-consumer, and media. These are the same reasons Bob Iger...
- 3/25/2024
- by Kambrea Pratt
- Pirates & Princesses
Disney has pushed back on a recommendation by Institutional Shareholder Services (Iss) to elect 11 of the company’s director nominees as well as activist investor Nelson Peltz as the boardroom proxy battle heats up.
The media giant has been immersed in a public feud with Peltz and wants its 12 board nominees to be elected at the virtual annual shareholder meeting on April 3.
Iss has recommended Peltz at the expense of Disney’s choice, Maria Elena Lagomasino, and questioned whether the board would fix “major missteps” in the “failed 2020 succession” which saw Bob Chapek replace Bob Iger as Disney CEO in...
The media giant has been immersed in a public feud with Peltz and wants its 12 board nominees to be elected at the virtual annual shareholder meeting on April 3.
Iss has recommended Peltz at the expense of Disney’s choice, Maria Elena Lagomasino, and questioned whether the board would fix “major missteps” in the “failed 2020 succession” which saw Bob Chapek replace Bob Iger as Disney CEO in...
- 3/21/2024
- ScreenDaily
George Lucas just sent the stormtroopers after Nelson Peltz.
The “Star Wars” creator backed Disney CEO Bob Iger in his ongoing (and going…and going…) proxy fight with activist investor Peltz. An important shareholder vote regarding the company’s board members is around the corner; we now know which way Lucas is voting.
“Creating magic is not for amateurs,” Lucas said in a statement shared with IndieWire. “When I sold Lucasfilm just over a decade ago. I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger’s leadership. When Bob recently returned to the company during a difficult time, I was relieved. No one knows Disney better. I remain a significant shareholder because I have full faith and confidence in the power of Disney and Bob’s track record of driving long-term value. I have voted all of my shares...
The “Star Wars” creator backed Disney CEO Bob Iger in his ongoing (and going…and going…) proxy fight with activist investor Peltz. An important shareholder vote regarding the company’s board members is around the corner; we now know which way Lucas is voting.
“Creating magic is not for amateurs,” Lucas said in a statement shared with IndieWire. “When I sold Lucasfilm just over a decade ago. I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger’s leadership. When Bob recently returned to the company during a difficult time, I was relieved. No one knows Disney better. I remain a significant shareholder because I have full faith and confidence in the power of Disney and Bob’s track record of driving long-term value. I have voted all of my shares...
- 3/19/2024
- by Tony Maglio
- Indiewire
George Lucas is giving his all-out support to Disney CEO Bob Iger following his controversial proxy fight with activist investors. The Lucasfilm boss remarked how satisfied he is as a shareholder and is very happy with how his franchise turned out after selling it to Disney.
George Lucas via Star Wars/Youtube
The issue started after Nelson Peltz and the Blackwells Capital expressed their dissatisfaction with Disney’s stock performance. Peltz in particular was dismayed with how things were turning out within the company.
George Lucas Expressed Satisfaction With Bog Iger’s Leadership At Disney
George Lucas is one of the high-profile figures to cast his vote on Bob Iger. Disney acquired Lucasfilm for $4 billion, and so far, the veteran filmmaker is confident about the business tycoon’s management. He said in a statement via The Hollywood Reporter:
“Creating magic is not for amateurs. When I sold Lucasfilm just over a decade ago,...
George Lucas via Star Wars/Youtube
The issue started after Nelson Peltz and the Blackwells Capital expressed their dissatisfaction with Disney’s stock performance. Peltz in particular was dismayed with how things were turning out within the company.
George Lucas Expressed Satisfaction With Bog Iger’s Leadership At Disney
George Lucas is one of the high-profile figures to cast his vote on Bob Iger. Disney acquired Lucasfilm for $4 billion, and so far, the veteran filmmaker is confident about the business tycoon’s management. He said in a statement via The Hollywood Reporter:
“Creating magic is not for amateurs. When I sold Lucasfilm just over a decade ago,...
- 3/19/2024
- by Ariane Cruz
- FandomWire
Updated with Trian statement. Activist investment firm Trian Fund Management says it is “disappointed that Disney is running a scorched-earth campaign.”
In a response to Disney’s recent salvos in a weeks-long proxy battle, Trian said Disney’s efforts appear to be “focused on deflecting attention from the board’s failures.”
Addressing one of the personality clashes at the center of the dispute, that between Disney CEO Bob Iger and former Marvel Chairman Ike Perlmutter, Trian said it is “irrelevant” to the proxy fight. Trian has been angling to have its co-founder, Nelson Peltz (an ally of Perlmutter) and ex-Disney CFO Jay Rasulo elected to the board of directors. Board elections will be held at Disney’s annual shareholder meeting on April 3.
“This election contest is not about Mr. Iger or Mr. Perlmutter,” Trian said. “We do not oppose Mr. Iger’s reelection nor his continued service as CEO. Mr.
In a response to Disney’s recent salvos in a weeks-long proxy battle, Trian said Disney’s efforts appear to be “focused on deflecting attention from the board’s failures.”
Addressing one of the personality clashes at the center of the dispute, that between Disney CEO Bob Iger and former Marvel Chairman Ike Perlmutter, Trian said it is “irrelevant” to the proxy fight. Trian has been angling to have its co-founder, Nelson Peltz (an ally of Perlmutter) and ex-Disney CFO Jay Rasulo elected to the board of directors. Board elections will be held at Disney’s annual shareholder meeting on April 3.
“This election contest is not about Mr. Iger or Mr. Perlmutter,” Trian said. “We do not oppose Mr. Iger’s reelection nor his continued service as CEO. Mr.
- 3/13/2024
- by Dade Hayes
- Deadline Film + TV
Disney shares were up 2% at mid-day Monday, extending their recent rally, as the company renewed its attacks on activist investor Nelson Peltz.
In a video posted to VoteDisney.com criticizing Peltz and his firm, Trian Fund Management, Disney said the investor’s pursuit of board seats for himself and ex-Disney CFO Jay Rasulo “seems more about vanity than a belief in Disney.” The company added that Rasulo “hasn’t been employed since leaving Disney” in 2015. The proxy fight is set to play out April 3 at the company’s annual shareholder meeting, which will be a virtual event this year.
Disney stock hit $112.76 with two hours left in the trading day. It has rebounded significantly since touching multi-year lows last fall, rising almost 25% in 2024 to date. (Trian has pointed to shareholder returns well below the broader market on a 3-year and 5-year basis and has also noted that the stock’s...
In a video posted to VoteDisney.com criticizing Peltz and his firm, Trian Fund Management, Disney said the investor’s pursuit of board seats for himself and ex-Disney CFO Jay Rasulo “seems more about vanity than a belief in Disney.” The company added that Rasulo “hasn’t been employed since leaving Disney” in 2015. The proxy fight is set to play out April 3 at the company’s annual shareholder meeting, which will be a virtual event this year.
Disney stock hit $112.76 with two hours left in the trading day. It has rebounded significantly since touching multi-year lows last fall, rising almost 25% in 2024 to date. (Trian has pointed to shareholder returns well below the broader market on a 3-year and 5-year basis and has also noted that the stock’s...
- 3/11/2024
- by Dade Hayes
- Deadline Film + TV
Disney CEO Bob Iger called the proxy fight being waged by two activist investors a campaign that “is, in a way, designed to distract us, to take our eye off all [that’s] necessary to do what we need to do to generate returns for shareholders.”
Nelson Peltz’ Trian Partners is fielding two director candidates – himself and former Disney executive Jay Rasulo — and has been aggressively soliciting Disney stockholders, mostly recently in a 133-page document yesterday. Investment firm Blackwells Capital has nominated three candidates. Shareholders will elect the board at Disney’s annual meeting April 3.
Iger, speaking at a Morgan Stanley investor conference, said he’s “working very hard not to let this distract me. Because when I get distracted, everyone that works for me gets distracted, and that is not a good thing.”
He’s been back at Disney for 15 months now and said things were difficult but he’s pleased...
Nelson Peltz’ Trian Partners is fielding two director candidates – himself and former Disney executive Jay Rasulo — and has been aggressively soliciting Disney stockholders, mostly recently in a 133-page document yesterday. Investment firm Blackwells Capital has nominated three candidates. Shareholders will elect the board at Disney’s annual meeting April 3.
Iger, speaking at a Morgan Stanley investor conference, said he’s “working very hard not to let this distract me. Because when I get distracted, everyone that works for me gets distracted, and that is not a good thing.”
He’s been back at Disney for 15 months now and said things were difficult but he’s pleased...
- 3/5/2024
- by Jill Goldsmith
- Deadline Film + TV
Disney CEO Bob Iger acknowledged that the company is behind Netflix in terms of technical capabilities — and that the Mouse House is in the process of catching up.
“We need to be at their level in terms of technology capability,” Iger said about Netflix, speaking Tuesday at the 2024 Morgan Stanley Technology, Media & Telecom Conference.
“When we launched Disney+ in 2019, our goal was to have basically robust video experiences at scale,” Iger said. “What we didn’t have was the technology that we needed to basically lower customer acquisition and retention cost, to increase engagement, to essentially grow our margins by reducing marketing expenses.”
Iger continued, “We’re now in the process of creating and developing all of that technology, and obviously the gold standard there is Netflix.” He said Netflix’s technology prowess is one of the reasons its margins are so much higher than Disney’s, and that Disney...
“We need to be at their level in terms of technology capability,” Iger said about Netflix, speaking Tuesday at the 2024 Morgan Stanley Technology, Media & Telecom Conference.
“When we launched Disney+ in 2019, our goal was to have basically robust video experiences at scale,” Iger said. “What we didn’t have was the technology that we needed to basically lower customer acquisition and retention cost, to increase engagement, to essentially grow our margins by reducing marketing expenses.”
Iger continued, “We’re now in the process of creating and developing all of that technology, and obviously the gold standard there is Netflix.” He said Netflix’s technology prowess is one of the reasons its margins are so much higher than Disney’s, and that Disney...
- 3/5/2024
- by Todd Spangler
- Variety Film + TV
Word has it that Sean Bailey had been looking to move on. However the news this week Disney’s president of motion picture studios has stepped down has much to do with CEO Bob Iger’s urgent course correction at a storied studio that just endured a relatively poor year at the box office and is facing pressure from activist shareholders to improve the stock price.
Bailey, a 15-year veteran of the company, was the executive who mined Disney’s animation vault and adapted them into live-action tentpoles that often crushed it at the box office.
For a long time...
Bailey, a 15-year veteran of the company, was the executive who mined Disney’s animation vault and adapted them into live-action tentpoles that often crushed it at the box office.
For a long time...
- 3/1/2024
- ScreenDaily
Any business, no matter how big, sails or sinks by the grace of its customers. Be it Disney or Starbucks, regardless of the product that is produced, the company’s priority needs to be to cater to the audiences that have supported them throughout. According to podcaster Patrick Bet-David, this is where Disney messed up, leading to the financial mess that has been the last few years for the House of Mouse.
Disney CEO Bob Iger
Elon Musk has come out to agree with Bet-David’s assessment, detailing what Disney forgot to do. The one thing that drives businesses is that it cater to the audience that has supported it throughout its lifetime: parents. The assessment came as a tweet, linking a sit down that the podcaster had with Gina Carano, discussing her ordeal with Disney that led to her being removed from The Mandalorian.
Suggested“I was used as...
Disney CEO Bob Iger
Elon Musk has come out to agree with Bet-David’s assessment, detailing what Disney forgot to do. The one thing that drives businesses is that it cater to the audience that has supported it throughout its lifetime: parents. The assessment came as a tweet, linking a sit down that the podcaster had with Gina Carano, discussing her ordeal with Disney that led to her being removed from The Mandalorian.
Suggested“I was used as...
- 2/29/2024
- by Anuraag Chatterjee
- FandomWire
During its first quarter earnings call earlier this month, Disney announced that the next animated film it will bring to theaters on Thanksgiving will be the sequel to its 2016 hit “Moana,” signaling a renewed push on sequels after years of original animated titles.
But “Moana 2” was originally announced in 2020, under short-lived CEO Bob Chapek, as a streaming series exclusive to Disney+. This change underscores a shifting strategy by Disney and other studios to move films previously planned for streaming to the big screen — in part to calm jittery investors nervous about the thin pipeline of tentpole movies after the Hollywood strikes.
The “Moana 2” re-direct follows Paramount’s “Mean Girls” and “Smile,” and Warner Bros./New Line’s “Evil Dead Rise,” all theatrical releases that were originally intended to be streaming-only.
“Studios are showing that when they see signs of high quality in a project they greenlit for streaming…...
But “Moana 2” was originally announced in 2020, under short-lived CEO Bob Chapek, as a streaming series exclusive to Disney+. This change underscores a shifting strategy by Disney and other studios to move films previously planned for streaming to the big screen — in part to calm jittery investors nervous about the thin pipeline of tentpole movies after the Hollywood strikes.
The “Moana 2” re-direct follows Paramount’s “Mean Girls” and “Smile,” and Warner Bros./New Line’s “Evil Dead Rise,” all theatrical releases that were originally intended to be streaming-only.
“Studios are showing that when they see signs of high quality in a project they greenlit for streaming…...
- 2/20/2024
- by Jeremy Fuster, Drew Taylor
- The Wrap
Disney has settled a lawsuit from a former Bp executive who accused the entertainment giant of reneging on a job offer to head its corporate affairs department amid its fracas with Florida Governor Ron DeSantis for control of the special tax district that controls development around Walt Disney World.
Lawyers for both sides notified the court on Tuesday of a deal to resolve the suit. Terms of the agreement were not disclosed.
In 2022, Shanan Guinn, Bp’s former senior vice president of business communications who also had a stint as chief of staff for the House of Representatives, sued Disney for breach of contract, among other claims. She alleged she was offered a position as head of the Geoff Morrell-run corporate affairs department, which included communications, under ex-chief executive Bob Chapek.
But when Morell, who recruited Guinn to Disney, was terminated as part of larger personnel changes amid Disney...
Lawyers for both sides notified the court on Tuesday of a deal to resolve the suit. Terms of the agreement were not disclosed.
In 2022, Shanan Guinn, Bp’s former senior vice president of business communications who also had a stint as chief of staff for the House of Representatives, sued Disney for breach of contract, among other claims. She alleged she was offered a position as head of the Geoff Morrell-run corporate affairs department, which included communications, under ex-chief executive Bob Chapek.
But when Morell, who recruited Guinn to Disney, was terminated as part of larger personnel changes amid Disney...
- 2/8/2024
- by Winston Cho
- The Hollywood Reporter - Movie News
With three years left on his current contract, Disney CEO past and present Bob Iger is feeling good about his successor, whoever that eventually turns out to be.
“I’m confident we’re going to find a successor to me in due time and in the right time,” Iger told CNBC today after Disney’s latest quarterly earnings report was released. “I think the commitment of the board the attention to the process is all very very healthy.”
Having returned to the Mouse House in November 2022 after the chaotic rule of his previously handpicked successor Bob Chapek, Iger added Wednesday that the succession committee meets regularly and finding the next CEO is probably the the board’s number one priority.”
Related: Taylor Swift’s ‘Eras Tour’ Concert Film To Stream On Disney+ In March With Five New Songs
Iger was quick to address the succession question in a very non-Logan Roy sort of way,...
“I’m confident we’re going to find a successor to me in due time and in the right time,” Iger told CNBC today after Disney’s latest quarterly earnings report was released. “I think the commitment of the board the attention to the process is all very very healthy.”
Having returned to the Mouse House in November 2022 after the chaotic rule of his previously handpicked successor Bob Chapek, Iger added Wednesday that the succession committee meets regularly and finding the next CEO is probably the the board’s number one priority.”
Related: Taylor Swift’s ‘Eras Tour’ Concert Film To Stream On Disney+ In March With Five New Songs
Iger was quick to address the succession question in a very non-Logan Roy sort of way,...
- 2/7/2024
- by Dominic Patten
- Deadline Film + TV
Updated: For nearly 40 years, the Walt Disney Co. has largely been seen as an invincible force in the business of entertainment.
Sure, the Mouse House has had its good and not-so-good years at the box office and in TV viewership rankings. But with one major exception, in 2004, the company’s status as a high-performing pillar among the world’s largest media companies has rarely been questioned. That changed last year when activist investor Nelson Peltz, chairman of Trian Fund Management, decided to take aim at Disney.
Trian and rival firm Blackwells Capital have launched dueling PR campaigns and proxy fights to prod Disney to make changes to its corporate governance and long-term strategy. Both efforts are highly unlikely to achieve their stated goals of forcing new board members on Disney through the shareholders vote at the company’s April 3 annual meeting. But they have already succeeded in damaging the aura...
Sure, the Mouse House has had its good and not-so-good years at the box office and in TV viewership rankings. But with one major exception, in 2004, the company’s status as a high-performing pillar among the world’s largest media companies has rarely been questioned. That changed last year when activist investor Nelson Peltz, chairman of Trian Fund Management, decided to take aim at Disney.
Trian and rival firm Blackwells Capital have launched dueling PR campaigns and proxy fights to prod Disney to make changes to its corporate governance and long-term strategy. Both efforts are highly unlikely to achieve their stated goals of forcing new board members on Disney through the shareholders vote at the company’s April 3 annual meeting. But they have already succeeded in damaging the aura...
- 2/7/2024
- by Cynthia Littleton
- Variety Film + TV
Elon Musk and X are helping Gina Carano foot the legal bill in her new lawsuit against Disney and Lucasfilm after she was dropped from The Mandalorian in 2021 over her controversial social media posts.
In the wrongful termination lawsuit (shared via The Hollywood Reporter), Carano claims she was fired for voicing her conservative opinions on social media, while some of her co-stars and Disney peers — including Mandalorian star Pedro Pascal — were neither reprimanded, nor ousted for voicing their liberal views. Carano is seeking financial damages, and a court order that...
In the wrongful termination lawsuit (shared via The Hollywood Reporter), Carano claims she was fired for voicing her conservative opinions on social media, while some of her co-stars and Disney peers — including Mandalorian star Pedro Pascal — were neither reprimanded, nor ousted for voicing their liberal views. Carano is seeking financial damages, and a court order that...
- 2/6/2024
- by Jon Blistein
- Rollingstone.com
Gina Carano is suing Disney and Lucasfilm for wrongful termination and discrimination, years after she was fired from her role on the Disney+ series The Mandalorian.
The 41-year-old actress, an outspoken conservative, came under fire in February 2021 after she shared a post from another account on her Instagram comparing the treatment of conservatives in the United States to how Jewish people were treated in Germany during the Nazi era.
Gina also mocked people for wearing masks amid the Covid-19 pandemic.
Elon Musk had previously promised to provide legal assistance to people who were discrimiinated against because of words they posted on X (the app formerly known as Twitter). He is now funding Gina‘s lawsuit against Disney and Lucasfilm.
Gina wants Disney to recast her and she’s also seeking damages.
Head inside to read the lengthy open letter that she posted on Twitter…
Read her lengthy open letter below…...
The 41-year-old actress, an outspoken conservative, came under fire in February 2021 after she shared a post from another account on her Instagram comparing the treatment of conservatives in the United States to how Jewish people were treated in Germany during the Nazi era.
Gina also mocked people for wearing masks amid the Covid-19 pandemic.
Elon Musk had previously promised to provide legal assistance to people who were discrimiinated against because of words they posted on X (the app formerly known as Twitter). He is now funding Gina‘s lawsuit against Disney and Lucasfilm.
Gina wants Disney to recast her and she’s also seeking damages.
Head inside to read the lengthy open letter that she posted on Twitter…
Read her lengthy open letter below…...
- 2/6/2024
- by Just Jared
- Just Jared
Gina Carano has filed a lawsuit against Walt Disney Co. and Lucasfilm over her “The Mandalorian” exit.
Carano was fired in February 2021 from the Disney+ series; she portrayed character Cara Dune.
Now, Carano’s legal filing (via The Hollywood Reporter) cites that she was fired for discrimination and wrongful termination. Carano alleged she was fired for her political affiliations and gender. She is seeking a court order for Lucasfilm to recast her, and $75,000, plus punitive damages.
IndieWire has reached out to Disney for comment.
“Some of us have been unjustly singled out, harassed, persecuted and had our livelihoods stripped away because we dared to encourage conversation, asked questions, and refused to go along with the mob,” Carano said in a statement. Carano also shared a lengthy statement on X.
Elon Musk, owner of X, is helping fund Carano’s lawsuit. In 2022, Carano starred in and produced the movie “Terror on the Prairie...
Carano was fired in February 2021 from the Disney+ series; she portrayed character Cara Dune.
Now, Carano’s legal filing (via The Hollywood Reporter) cites that she was fired for discrimination and wrongful termination. Carano alleged she was fired for her political affiliations and gender. She is seeking a court order for Lucasfilm to recast her, and $75,000, plus punitive damages.
IndieWire has reached out to Disney for comment.
“Some of us have been unjustly singled out, harassed, persecuted and had our livelihoods stripped away because we dared to encourage conversation, asked questions, and refused to go along with the mob,” Carano said in a statement. Carano also shared a lengthy statement on X.
Elon Musk, owner of X, is helping fund Carano’s lawsuit. In 2022, Carano starred in and produced the movie “Terror on the Prairie...
- 2/6/2024
- by Samantha Bergeson
- Indiewire
When it comes to fired The Mandalorian actress Gina Carano and Elon Musk, revenge against the Walt Disney Company is served piping hot, even if it takes a bit of time and tries to snare Pedro Pascal and Mark Hamill.
Three years after ex-mma fighter Carano was axed by the then Bob Chapek-run Disney for comparing the political climate in America to Nazi Germany, Carano on Tuesday sued Disney and Star Wars shingle Lucasfilm for dropping her from the bounty-hunter series – and the X/Tesla owner is paying for her lawyers.
“A short time ago in a galaxy not so far away, Defendants made it clear that only one orthodoxy in thought, speech, or action was acceptable in their empire, and that those who dared to question or failed to fully comply would not be tolerated,” reads the complaint seeking a jury trial filed this morning in federal court says.
Three years after ex-mma fighter Carano was axed by the then Bob Chapek-run Disney for comparing the political climate in America to Nazi Germany, Carano on Tuesday sued Disney and Star Wars shingle Lucasfilm for dropping her from the bounty-hunter series – and the X/Tesla owner is paying for her lawyers.
“A short time ago in a galaxy not so far away, Defendants made it clear that only one orthodoxy in thought, speech, or action was acceptable in their empire, and that those who dared to question or failed to fully comply would not be tolerated,” reads the complaint seeking a jury trial filed this morning in federal court says.
- 2/6/2024
- by Dominic Patten
- Deadline Film + TV
Donald Trump can beat Ron DeSantis, but turns out the Walt Disney Company can’t.
A federal judge just dismissed the Bob Iger-run corporation’s First Amendment lawsuit against the Florida governor and failed GOP presidential candidate.
“After a hearing and having carefully considered the parties’ arguments, I now grant both motions,” U.S. District Court Judge Allen Winsor wrote Wednesday, nearly two months after said hearing. The Central Florida Tourism Oversight District Board, the group that now oversees a swath of Central Florida where Walt Disney World sits, also was a defendant in the case, along with DeSantis and a number of top members of his administration.
“In short, Disney lacks standing to sue the Governor or the Secretary, and its claims against the Cftod Defendants fail on the merits because when a statute is facially constitutional, a plaintiff cannot bring a free-speech challenge by claiming that the...
A federal judge just dismissed the Bob Iger-run corporation’s First Amendment lawsuit against the Florida governor and failed GOP presidential candidate.
“After a hearing and having carefully considered the parties’ arguments, I now grant both motions,” U.S. District Court Judge Allen Winsor wrote Wednesday, nearly two months after said hearing. The Central Florida Tourism Oversight District Board, the group that now oversees a swath of Central Florida where Walt Disney World sits, also was a defendant in the case, along with DeSantis and a number of top members of his administration.
“In short, Disney lacks standing to sue the Governor or the Secretary, and its claims against the Cftod Defendants fail on the merits because when a statute is facially constitutional, a plaintiff cannot bring a free-speech challenge by claiming that the...
- 1/31/2024
- by Dominic Patten and Ted Johnson
- Deadline Film + TV
Blackwells Capital, a Disney shareholder with plenty of opinions about who should sit on the company’s board of directors, blasted the rival Trian Group for its own board maneuvering.
In a press release Monday, Blackwells Chief Investment Officer Jason Aintabi said Trian co-founder Nelson Peltz has come up short in terms of suggesting ways for the media giant to right its ship. Trian, which owns about $3 billion in Disney stock, last week formally initiated a proxy war with Disney by nominating Peltz and former Disney CFO Jay Rasulo to the board. The firm plans to solicit support from a shareholder base that it believes has grown restless over the company’s lackluster stock performance.
Trian has attacked Disney’s path under CEO Bob Iger, who returned to the top exec role in November 2022 in a bid to shore up the company after it slipped under his hand-picked successor, Bob Chapek.
In a press release Monday, Blackwells Chief Investment Officer Jason Aintabi said Trian co-founder Nelson Peltz has come up short in terms of suggesting ways for the media giant to right its ship. Trian, which owns about $3 billion in Disney stock, last week formally initiated a proxy war with Disney by nominating Peltz and former Disney CFO Jay Rasulo to the board. The firm plans to solicit support from a shareholder base that it believes has grown restless over the company’s lackluster stock performance.
Trian has attacked Disney’s path under CEO Bob Iger, who returned to the top exec role in November 2022 in a bid to shore up the company after it slipped under his hand-picked successor, Bob Chapek.
- 1/22/2024
- by Dade Hayes
- Deadline Film + TV
Disney hasn’t had a particularly strong 2023, especially by its previous standards. Panic not, though: boss Bob Iger got rich again.
The end of 2022 saw dramatic change at the top of The Walt Disney Company, with arguably its most successful ever CEO in pure business terms – Bob Iger – returning to the job he’d retired from a few years before. His hand-picked replacement, Bob Chapek, was pretty brutally defenestrated, with Iger expected to work his magic and turn around what’d been a difficult couple of years for the company.
However, the last 12 months have hardly gone to plan for Disney. Expensive films such as Ant-Man & The Wasp: Quantumania, Indiana Jones And The Dial Of Destiny and Wish have fallen short of financial expectations. Meanwhile, Iger – unusually – read the room badly when Hollywood writers and actors went on strike.
He said of the strikes that “it’s very disturbing...
The end of 2022 saw dramatic change at the top of The Walt Disney Company, with arguably its most successful ever CEO in pure business terms – Bob Iger – returning to the job he’d retired from a few years before. His hand-picked replacement, Bob Chapek, was pretty brutally defenestrated, with Iger expected to work his magic and turn around what’d been a difficult couple of years for the company.
However, the last 12 months have hardly gone to plan for Disney. Expensive films such as Ant-Man & The Wasp: Quantumania, Indiana Jones And The Dial Of Destiny and Wish have fallen short of financial expectations. Meanwhile, Iger – unusually – read the room badly when Hollywood writers and actors went on strike.
He said of the strikes that “it’s very disturbing...
- 1/17/2024
- by Simon Brew
- Film Stories
Former Disney CEO Bob Chapek has found his next gig.
The executive is joining the board of directors of Masimo, the medical device company currently embroiled in a dispute with Apple over certain features of the tech giant’s Apple Watch. Imports of the Apple Watch were halted after Masimo accused the company of infringing on its patents. Apple said that it will redesign the watch to remove a blood oxygen measurement functionality to avoid the ban.
“I am thrilled to join the Masimo Board,” said Chapek in a statement. “I look forward to helping advance the company’s growth by leveraging their core technologies in the consumer and consumer health spaces.”
Joe Kiani, Chairman and CEO of Masimo, said, “We are honored to have Bob join the Board. As we execute our hospital to home strategy, we expect to benefit greatly from Bob’s role on our Board.”
Chapek...
The executive is joining the board of directors of Masimo, the medical device company currently embroiled in a dispute with Apple over certain features of the tech giant’s Apple Watch. Imports of the Apple Watch were halted after Masimo accused the company of infringing on its patents. Apple said that it will redesign the watch to remove a blood oxygen measurement functionality to avoid the ban.
“I am thrilled to join the Masimo Board,” said Chapek in a statement. “I look forward to helping advance the company’s growth by leveraging their core technologies in the consumer and consumer health spaces.”
Joe Kiani, Chairman and CEO of Masimo, said, “We are honored to have Bob join the Board. As we execute our hospital to home strategy, we expect to benefit greatly from Bob’s role on our Board.”
Chapek...
- 1/16/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Bob Chapek, a nearly three-decade Disney veteran who was ousted in 2022 as the media company’s CEO, has been appointed to the board of directors of medical tech firm Masimo.
The move comes during a dramatic series of events involving Masimo and Apple. The tech giant has been in a patent dispute with the firm over a blood oxygen tool featured in the company’s latest line of smart watches. After the International Trade Commission ruled that the feature infringed on Masimo’s patent, Apple pulled the current edition of the watches off the market. Multiple media outlets reported Monday that the feature is being taken off of the watches in subsequent editions.
Chapek took over as CEO of Disney in February 2020, taking the baton from Bob Iger just as the world began to be upended by Covid. While he managed to steer the company through brutal challenges in the initial stages of the pandemic,...
The move comes during a dramatic series of events involving Masimo and Apple. The tech giant has been in a patent dispute with the firm over a blood oxygen tool featured in the company’s latest line of smart watches. After the International Trade Commission ruled that the feature infringed on Masimo’s patent, Apple pulled the current edition of the watches off the market. Multiple media outlets reported Monday that the feature is being taken off of the watches in subsequent editions.
Chapek took over as CEO of Disney in February 2020, taking the baton from Bob Iger just as the world began to be upended by Covid. While he managed to steer the company through brutal challenges in the initial stages of the pandemic,...
- 1/16/2024
- by Dade Hayes
- Deadline Film + TV
Disney CEO Bob Iger’s compensation totaled about $31.6 million for the company fiscal year ended Sept. 30. It includes most of the year. Iger returned to lead Disney in November of 2022.
In a preliminary proxy statement filed with the SEC this afternoon, Disney also alerted shareholders to an upcoming annual meeting but didn’t provide the date, which will be forthcoming. The event looks set to be the scene of a nasty proxy battle with two sets of activist investors looking to seat outside directors on the board.
Disney said in the filing, emphasized in separate press release, that it does not endorse the nominations of Nelson Peltz and James Rasulo put forth by Trian Fund Management, led by Peltz and backed by former Disney executive and shareholder Ike Perlmutter. Nor does the company endorse the nominations of Craig Hatkoff, Jessica Schell and Leah Solivan put forth for election as directors by another activist fund,...
In a preliminary proxy statement filed with the SEC this afternoon, Disney also alerted shareholders to an upcoming annual meeting but didn’t provide the date, which will be forthcoming. The event looks set to be the scene of a nasty proxy battle with two sets of activist investors looking to seat outside directors on the board.
Disney said in the filing, emphasized in separate press release, that it does not endorse the nominations of Nelson Peltz and James Rasulo put forth by Trian Fund Management, led by Peltz and backed by former Disney executive and shareholder Ike Perlmutter. Nor does the company endorse the nominations of Craig Hatkoff, Jessica Schell and Leah Solivan put forth for election as directors by another activist fund,...
- 1/16/2024
- by Jill Goldsmith
- Deadline Film + TV
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