When Bob Iger returned for a second term in charge of Disney, some insiders said he was the last the company ever had by facilitating blockbuster sales to tech giant Apple. I believe that you are aiming to become CEO.
The company’s board tabbed Iger on Sunday night to “replace” former CEO Bob Chapek.
Iger has a long history, beginning with the acquisition of Steve Jobs-led animation studio Pixar in 2006, then Marvel in 2009, and then Lucasfilm, owner of Lucasfilm. Star Wars – year 2012.
“He plans to sell the company,” predicted a Disney source who has previously worked with Iger.
“This is the ultimate deal for the ultimate deal maker,” they added.
Disney will probably cost a whopping $200 billion in acquisitions, but Apple is one of the only companies in the world ready to spend that cash.
Disney’s incoming CEO Bob Iger, who previously served as the company’s boss, is said to be considering a merger with Apple
Iger was a close friend of the late Apple visionary Steve Jobs, and developed a personal and professional relationship with him beginning with the Jobs-led Disney deal to acquire Pixar.
Former Disney CEO Bob Chapek said he initially chose not to speak out against Florida’s Don’t Say Gay bill to balance the needs of customers and employees.
The California tech giant currently has a cash reserve of about $48 billion, or more than $200 billion when investments are included.
Apple already appears to be interested in products like those sold by Disney. With his Apple TV shows like Ted Lasso and Severance, they’re making an effort to make their voices heard in the streaming world.
“I think he’ll welcome it — he’ll be Disney’s last CEO,” a former Disney executive told TheWrap.
They also said that the two companies have similar “brand identities” and thus can benefit from each other.
However, given the recent stringency of federal antitrust enforcement, a deal between the two companies could be considered illegal.
A federal judge recently blocked a bid by publisher giant Penguin Random House to acquire rival Simon & Schuster in a $2.175 billion deal that would see two giant companies merge into one. did.
The judge agreed with the Justice Department’s opinion that merging the world’s two largest publishers could result in “less competition” for “best-selling books.”
With Disney and all of its acquisitions being acquired by one of the world’s largest tech companies, we could draw similar conclusions from this proposed deal.
But the government hasn’t won every antitrust controversy it has ever picked, and has suffered losses in several different industries.
The DOJ lost a bid to prevent U.S. Sugar, a major U.S. sugar maker, from buying rival Imperial Sugar, one of the nation’s largest sugar refiners. Prosecutors have suggested they intend to appeal the decision.
They were also stymied in an attempt to block the nearly $8 billion acquisition of healthcare technology company Change Healthcare by UnitedHealth Group, which operates the nation’s largest health insurance company.
DOJ is also battling American Airlines and JetBlue in antitrust cases in federal court in Boston, challenging a regional partnership in the Northeast that the government calls a de facto merger.
Apple’s Recent Stock Price – Considering How Strict The Federal Government Is In Enforcing Antitrust Laws, A Deal Between The Two Could Be Considered Illegal
Disney’s poor performance under outgoing Chapek has been blamed on a variety of factors, including streaming losses
Aerial view of Apple headquarters in Cupertino, Calif. – Apple seems already interested in products like the ones Disney sells, and is devoting more resources to streaming.
Iger’s relationship with Apple goes beyond opportunities in the streaming space. He was a close friend of the late Apple visionary Steve Jobs, with whom he developed a personal and professional relationship.
Jobs and Iger worked together to complete the Pixar-Disney merger. Iger wrote in Vanity Fair that it was the beginning of a successful relationship.
“The ease and speed with which we closed the deal, combined with the fact that it showed admiration for Apple and its products, blew Steve’s mind,” he said.
“He told me he had never met anyone in the entertainment industry who was willing to try and destroy his company’s business model.
Meanwhile, the company’s poor performance under outgoing Chapek has been blamed for a variety of factors – disappointing financial results, heavy losses in its streaming business, and the company’s slump over Ron DeSantis’ Don’t Say Gay bill. Chapek’s erroneous response to correspondence.
This bill restricts discussion of LGBTQ issues by students in grades 3 and under in Florida schools.
Bob Chapek’s disaster as Disney CEO
July 2021 Bob Chapek takes responsibility when a feud erupts after actress Scarlett Johansson sued Disney for breach of contract in a dispute over the release of Black Widow.Former CEO Bob Iger are reportedly perplexed by Disney’s approach to the lawsuit.
March 2022 Chapek faces backlash from Disney staff for failing to criticize Ron DeSantis’ “don’t say gay” bill. wounded in public battles.
March 2022 Employees have been outraged over Florida’s handling of the bill, claiming Disney executives censored “overt gay affection” in recent films. and revived the kiss in the Toy Story spin-off “Lightyear.”
June 2022 Chapek ousts respected entertainment and programming chairman Peter Rice. The Hollywood Reporter said insiders were “embarrassed” by the decision. “This surprises me,” said one executive.
November 2022 The lower-than-expected fourth-quarter earnings were attributed to the cost of Disney’s streaming business. Stocks continue to fall before Chapek is kicked out.
https://www.dailymail.co.uk/news/article-11461817/Largest-entertainment-company-Return-Disney-boss-Bob-Iger-sparks-Apple-merger-speculation.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Biggest Entertainment Company Ever?Disney boss Bob Iger’s return fuels Apple merger speculation