Disney CEO discusses potential sale of major assets due to dire financial outlook.
In November 2021, Disney Fires CEO Bob Chapek, Replaces Him with Bob Iger
According to NBC News, Disney made the decision to fire CEO Bob Chapek and bring back his predecessor, Bob Iger, who had previously led the company for fifteen years.
Challenges Under Chapek’s Leadership
Under Chapek’s leadership, Disney faced numerous challenges, including the impact of the pandemic, questionable leadership decisions, and social controversies.
Iger’s Struggles Since His Return
Since his return as CEO, Iger has faced difficulties, as reported by Robbie Whelan, The Wall Street Journal’s Disney beat reporter.
Financial Struggles for Disney
Disney parks, major motion pictures, and streaming platforms have all experienced significant financial struggles in recent months, resulting in estimated losses of up to $1 billion for the company.
Iger’s Transformation Plan
Iger is now looking to sell off many of Disney’s biggest assets as part of a transformation plan to address the company’s financial realities.
Open-Minded Approach to Linear TV Assets
Iger has expressed openness to selling off non-growth businesses, including major linear television assets like ABC, FX, and National Geographic, while emphasizing the importance of ESPN in the sports business.
Renewal of Iger’s Contract
Despite the challenges, Disney has renewed Iger’s contract for another two years, extending his tenure as CEO until the end of 2026.
Source: The Western Journal
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