Core points of Gamers


Core points of Gamers

Disney ‘Insider’ Predicts Bob Iger Plans to Sell the Company

Recently reinstated Disney CEO Bob Iger is expected to sell The Walt Disney Company to none other than Apple, with whom Iger has a history.

Disney recently reinstated Bob Iger as CEO in a move that has already seen positive changes for the company. One source reportedly predicted that Iger’s return will bring much more substantial changes to the shape of The Walt Disney Company’s sale.

As reported by the envelope, an anonymous former Disney executive predicted that Iger, who has agreed to remain as chief executive for the next two years, will seek to conclude his tenure by selling the company to Apple. “This is the pinnacle deal for the ultimate dealmaker… I think he would welcome it, he would be the last CEO of Disney,” the source explained.

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Disney is currently valued at about $180 billion and, according to the report, its sale is likely to face resistance from antitrust regulators. Neither Disney nor Apple have provided comment on the recent report. However, it’s worth noting that Iger and Disney have a long history with Apple. Iger himself called Apple co-founder Steve Jobs a close friend and was previously quoted as saying that if it weren’t for Jobs’ death in 2011, Disney and Apple probably would have merged, or at least had the discussion.

Bob Iger’s return to Disney

Disney announced Iger’s sudden return on November 20. Details about Bob Chapek’s departure are scant, though recent reports suggest he, too, received no substantial warning beforehand. He had been chief executive since 2020, though Iger did not support the decision to make him chief of Disney. In fact, not long after he replaced Iger, reports surfaced that company executives held very negative views of him and expected Chapek to fail so they could replace him. Despite being diplomatic in public, Iger himself reportedly criticized Chapek in private conversations.

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Chapek will reportedly leave the company with severance of at least $20 million, though the figure could be higher and depends on a variety of factors, including his equity stake. Meanwhile, Iger returns with a substantially reduced salary of $1 million per year, with an additional $1 million as a specific bonus. This is in addition to a performance incentive of approximately $25 million. For comparison, he previously made $3 million per year and received over $22 million as a bonus.

All this is not in vain, since Iger’s return to Disney, as has already been said, has already brought important improvements for the company. When his return was announced, Disney’s stock price soared 6.3 percent, closing at $97.58 per share.

Font: the envelope

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