Disney CEO Bob Chapek was pretty mediocre at cutting costs and doing what Disney used to do: Make movies that appeal to the masses.
His most recent earnings report was a disaster in style, which angered the Disney board as much as his awkward about face on the Florida sex-ed law. Disney reported lower than expected fourth-quarter results that Chapek tried to spin it as something not-so-bad just before companywide layoffs.
Iger will have to deal with Chapek’s poor earnings and unprofitable streaming plan ahead of a potential recession.To be sure, streaming isn’t easy for anyone, but Chapek’s plan to make it profitable by 2024 seems to be a stretch, since in its recent quarter it lost $1.4 billion. There’s a looming recession that could eat into the one part of the business that’s doing well and subsidizing the streaming losses: theme parks. Activist shareholders are circling.
They probably won’t publicly demand the end of leftism from Iger. They probably won’t have to because Iger, for all his history of virtue signaling, can read a balance sheet. He’s smart enough to sense the mood of the country that virtue signaling plays well among the tweeting left but not so well with Disney customers. because parents just don’t like corporations proselytizing to their kids.
My bet: Iger will make nice with DeSantis. He might even try to sell the company to an outfit like Apple, which can use the content and has the balance sheet to pay up. Iger certainly won’t make Disney anti-woke. But based on his experience, he’ll be smarter about it than Chapek was.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Disney CEO Swap: Bob Chapek Replaced By Previous CEO Bob IgerThe top spot at the world's biggest entertainment creator just flipped yet again.
Leer más »
Bob Iger named Disney CEO again, replacing Bob Chapek, in a shock to Hollywood | CNN BusinessBob Iger, one of the most successful CEOs in the history of The Walt Disney Company, is returning to once again run the media empire. It's a shocking development at Hollywood's biggest company.
Leer más »
Bob Chapek out as Disney CEO, Bob Iger returnsAfter a tumultuous two and a half years, Bob Chapek, the embattled CEO of the Walt Disney Co., has stepped down from the role, the company announced.
Leer más »
Disney stuns as Bob Iger returns as CEO, replacing Bob ChapekDisney announced on Sunday that Bob Iger would return to be the company's CEO for two years, replacing outgoing Bob Chapek.
Leer más »
Disney fires Bob Chapek, taps ex-CEO Bob Iger to return, set strategyCHapek faced blowback earlier this year for not using the company’s vast influence in Florida to help quash a Republican bill that would prevent teachers from instructing early grades on LGBTQ issues.
Leer más »
Bob Iger Returns as Disney CEO, Replacing Bob ChapekIn a surprise move, the Walt Disney Company’s board of directors fired CEO Bob Chapek on Sunday and replaced him with former CEO Bob Iger. See potential bias and similarities in coverage from FoxBusiness, CNBC and NBCNews: Disney BobIger
Leer más »