Why Was Disney’s CEO Talking About A Fire Sale Of Major Assets? [VIDEO]

Disney ousted CEO Bob Chapek in November 2021 and chose to replace him with Bob Iger, who had led the business for 15 years prior to Chapek’s appointment.

According to NBC News, the entertainment behemoth has started to fall apart under Chapek’s leadership, in part due to the pandemic, dubious leadership choices, and a number of social controversies.

Not much has changed in the first several years after Iger’s return. Iger has reportedly been “having a hard time” in the eight months since his appointment as CEO, according to Robbie Whelan, the Disney beat reporter for The Wall Street Journal.

This is probably because recent months have seen substantial financial challenges for streaming services, major movie pictures, and Disney parks. According to at least one financial analyst, the corporation may have suffered huge losses totaling $1 billion between June 2022 and June of this year.

Iger may be attempting to offload many of the most valuable assets of the business for this reason.

A report from February said that the studio intended to eliminate 7,000 positions and a staggering $5.5 billion in expenses.

“It’s time for another transformation,” Iger said at the time.

Based on a recent interview, we now have a good idea of what this “transformation” is going to be.

“The transformative work of course is making sure that our cost structure reflects the economic realities of the business,” Iger said in a July 13 interview with CNBC

This includes, according to Iger, “dealing with businesses that are no-growth businesses and what to do about them.”

When asked if this would involve selling off major linear television assets like ABC, FX, National Geographic, and others, Iger responded that he would be “open-minded and objective about the future of those businesses.”

ESPN was the only non-core Disney asset Iger appeared to remove from the discussion.

“If you look at today’s media landscape, sports stands very, very tall in terms of its ability to convene millions and millions of people all at once,” Iger said. “There’s almost a guarantee that that occurs.

“It’s an advertiser’s dream. It’s a great demographic. It lends itself to technology in many ways, both in terms of coverage, distribution and consumption. And our position in that business is very unique. We have a great brand. We’ve had a great business.

“And we want to stay in that business.”

That doesn’t, however, mean that ESPN will remain in its current form forever.

“That said, we’re going to be open-minded there too, not necessarily about spinning ESPN off, but about looking for strategic partners that could either help us with distribution or content, but we want to stay in the sports business,” Iger said.

Iger’s message throughout the interview, in the opinion of Axios media reporter Tim Baysinger, couldn’t have been any more explicit.

“Bob Iger basically put a giant ‘FOR SALE’ sign on Disney’s linear TV assets except for ESPN,” Baysinger wrote in a Twitter post.

Iger is enlisted to carry out his ideas. Less than a year into Iger’s second term, Disney reportedly extended his contract for an additional two years in mid-July, according to CBS News.

He will continue to lead Disney through the end of 2026.

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Sassy Liberty

Sassy Liberty is a political writer for the better part of a decade. She has been vocal for years on social media concerning the communist agenda that has infiltrated our country. She is an advocate for medical freedom, homeschooling, and defunding the woke culture. Do you want to stop the war on kids and defund the commie agenda?

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