Recent developments have convinced industry insiders and analysts that Disney CEO Bob Iger is gearing up to sell the company.
The Walt Disney Company has made headlines for months now, be that about its controversies for being woke or for the speculation about Disney CEO Bob Iger selling the company to rescue it from the dire depths it currently finds itself in.
Is Bob Iger Going to Save Disney?
In November 2022, the board of the Walt Disney Company ousted former Disney CEO Bob Chapek from his position and replaced him with his then-predecessor and now-successor, Disney CEO Bob Iger. The board brought Iger back to fix the mess that Disney found itself in with its streaming service losses and general Disney Park Guest dissatisfaction.
While many were incredibly excited at Bob Iger’s return, his return has come with its fair share of frustration for Guests. Many expected Mr. Iger to bring Disney back to its former glory, however, his decisions haven’t necessarily gone down well with the community.
The reason for this, per most analysts, is that Mr. Iger is angling to sell Disney and is approaching all his decision-making through that lens.
Related: Move Over Apple: $1 TRILLION Company Showing Interest in Buying Disney
One banker, who spoke to Reuters, on the condition of anonymity, posited that “[Iger’s] signaling to investors.” The banker added that Iger’s remarks of the company’s television businesses, including its stations and cable channels “not being core to Disney,” has “spurred a frenzy of activity among bankers and private equity players, who began evaluating whether they should “make a move.”
Many believe that Iger is angling to free up cash for the upcoming Hulu buyout from NBCUniversal, and others believe he’s using a similar strategy to former Time Warner CEO Jeff Bewkes, who sold off parts of the company before “selling its core film and television unit to AT&T in an $85.4 billion deal that closed in 2018.”
Is Bob Iger Going to Sell Disney to Apple?
While many are convinced that Disney will almost certainly be sold to tech giant Apple, Mr. Iger himself reminded the community during the last earnings call that those who are speculating about Disney selling to a larger entity would do well to remember the “global regulatory environment.”
This said, Apple is certainly the hot favorite among those speculating about the eventual buyer of the Walt Disney Company.
Related: Bob Iger “Looking Forward” to Analyst’s Shocking Solution to Save Disney
Did Disney Extend CEO Bob Iger’s Contract Through 2026 Two Years Longer Than Planned?
While it’s not entirely clear how this will play out, especially since many are convinced, based on Mr. Iger’s latest remarks and FTC regulations, that Disney will definitely not be sold. However, the Disney board did extend Disney’s CEO’s contract through 2026 to allow him more time to fix Disney’s current situation.
This is two years longer than his original contract and raises questions about what exactly Mr. Iger has planned for the extra two years.
