Disney’s decision to bring back long-time CEO Bob Iger to replace beleaguered Bob Chapek on Nov. 20, 2022 sent shock waves through Hollywood. The stock closed that week at $98.87 amid hopes he could right a struggling ship.
On Nov. 28 last year, Iger used a town hall meeting to outline first priorities and told staff that he did not expect the company to make any significant acquisitions during his second run as CEO. “We have a great set of assets here,” he said. “Nothing is forever, but I am very, very comfortable with each of the assets that we have.”
Fast-forward exactly a year, and some things have changed for the better for Disney, with Iger having focused on cost-cutting (putting Disney on track to achieve roughly $7.5 billion in cost reductions, up from the previously targeted $5.5. billion), streamlining and optimizing the company via restructuring moves.
But the conglomerate’s stock has remained under pressure,...
On Nov. 28 last year, Iger used a town hall meeting to outline first priorities and told staff that he did not expect the company to make any significant acquisitions during his second run as CEO. “We have a great set of assets here,” he said. “Nothing is forever, but I am very, very comfortable with each of the assets that we have.”
Fast-forward exactly a year, and some things have changed for the better for Disney, with Iger having focused on cost-cutting (putting Disney on track to achieve roughly $7.5 billion in cost reductions, up from the previously targeted $5.5. billion), streamlining and optimizing the company via restructuring moves.
But the conglomerate’s stock has remained under pressure,...
- 11/27/2023
- by Georg Szalai
- The Hollywood Reporter - Movie News
Here’s a look at this week’s biggest premieres, parties and openings in Los Angeles and New York, including events for Back to the Future: The Musical, Clayton Kershaw’s Ping Pong 4 Purpose celebrity tournament and the Miu Miu Summer Club Malibu.
Uswnt Watch Party
Re–Inc, the purpose-led business and global community founded in 2019 by two-time World Cup champions Christen Press, Tobin Heath, Meghan Klingenberg and Megan Rapinoe, celebrated the launch of its new division, Re–Media on Friday night in Los Angeles. For the first time not playing in the tournament in over a decade, Health and Press watched the World Cup alongside friends, fans and supporters as they celebrated the launch of the new digital series, The Re–Cap Show.
Christen Press and Tobin Heath
Oceana’s SeaChange Summer Party
Oceana held its 16th Annual SeaChange Summer Party on Saturday in Dana Point, hosted by June Diane Raphael...
Uswnt Watch Party
Re–Inc, the purpose-led business and global community founded in 2019 by two-time World Cup champions Christen Press, Tobin Heath, Meghan Klingenberg and Megan Rapinoe, celebrated the launch of its new division, Re–Media on Friday night in Los Angeles. For the first time not playing in the tournament in over a decade, Health and Press watched the World Cup alongside friends, fans and supporters as they celebrated the launch of the new digital series, The Re–Cap Show.
Christen Press and Tobin Heath
Oceana’s SeaChange Summer Party
Oceana held its 16th Annual SeaChange Summer Party on Saturday in Dana Point, hosted by June Diane Raphael...
- 7/28/2023
- by Kirsten Chuba
- The Hollywood Reporter - Movie News
Activist investor Nelson Peltz has bowed out of his ongoing proxy fight with Disney, following returned CEO Bob Iger’s announcement of a sweeping restructuring plan Wednesday.
“Now Disney plans to do everything we wanted them to do,” said Peltz, the billionaire Trian Fund Management CEO and founder, while appearing on CNBC’s “Squawk on the Street” on Thursday morning. “We wish the very best to Bob, this management team and the board. We will be watching. We will be rooting. The proxy fight is over.”
In a followup statement to Variety, a Trian spokesperson confirmed: “The proxy fight is over. This is a win for all shareholders.”
Following Peltz’s public remarks, Disney issued its own statement regarding Trian’s decision to end the proxy fight ahead of the April 3 shareholders meeting.
“We respect and value the input of all our shareholders and we appreciate the decision by Trian...
“Now Disney plans to do everything we wanted them to do,” said Peltz, the billionaire Trian Fund Management CEO and founder, while appearing on CNBC’s “Squawk on the Street” on Thursday morning. “We wish the very best to Bob, this management team and the board. We will be watching. We will be rooting. The proxy fight is over.”
In a followup statement to Variety, a Trian spokesperson confirmed: “The proxy fight is over. This is a win for all shareholders.”
Following Peltz’s public remarks, Disney issued its own statement regarding Trian’s decision to end the proxy fight ahead of the April 3 shareholders meeting.
“We respect and value the input of all our shareholders and we appreciate the decision by Trian...
- 2/9/2023
- by Jennifer Maas
- Variety Film + TV
Disney intends to lay off approximately 7,000 entertainment jobs in an enormous overhaul and re-organization that the company projects will save 5.5 billion in cost synergies. In his first earnings report since returning as CEO, Bob Iger announced the massive cuts Wednesday and laid out a structure that will unify virtually all of Disney’s entertainment branches under one roof.
Iger’s first move is the formation of Disney Entertainment, which will bring together Disney Studios, General Entertainment, Animation, Disney+, 20th Century Studios, Searchlight, and Hulu, all under the leadership of current General Entertainment head Dana Walden and Studios head Alan Bergman, both of whom will be co-chairmen under the new banner.
ESPN, which will continue to be led by James Pitaro, will remain a separate entity and include ESPN+. ESPN won’t be spun off from Disney at large, or at least not yet. A third division will be Disney Parks, Experiences, and Products,...
Iger’s first move is the formation of Disney Entertainment, which will bring together Disney Studios, General Entertainment, Animation, Disney+, 20th Century Studios, Searchlight, and Hulu, all under the leadership of current General Entertainment head Dana Walden and Studios head Alan Bergman, both of whom will be co-chairmen under the new banner.
ESPN, which will continue to be led by James Pitaro, will remain a separate entity and include ESPN+. ESPN won’t be spun off from Disney at large, or at least not yet. A third division will be Disney Parks, Experiences, and Products,...
- 2/8/2023
- by Brian Welk
- Indiewire
It didn’t take long for Bob Iger to remind the Disney staff what his values were. The former and now returning CEO announced Monday that Disney’s restructuring under his leadership would both honor and respect “creativity as the heart and soul of who we are” over a reliance on data-driven decision making. And for the first time since Iger turned things over to now-ousted CEO Bob Chapek, it’ll be the creatives, not the technology and product teams, who call the shots at Disney.
For nearly three years, all Disney creators turned over their work to something called Dmed, aka Disney Media & Entertainment Distribution, a division led by Chapek’s, No. 2 Kareem Daniel. Dmed, not the creative divisions, would then make the call on whether a film would get a theatrical release or go to streaming, and how much marketing it received. That’s how “Dancing With the Stars...
For nearly three years, all Disney creators turned over their work to something called Dmed, aka Disney Media & Entertainment Distribution, a division led by Chapek’s, No. 2 Kareem Daniel. Dmed, not the creative divisions, would then make the call on whether a film would get a theatrical release or go to streaming, and how much marketing it received. That’s how “Dancing With the Stars...
- 11/22/2022
- by Brian Welk
- Indiewire
NFL players and teams, colleagues, friends and others are mourning John Madden, the Hall of Fame NFL coach-turned-broadcaster who died today at 85. Here are some of their tributes from social media:
A statement on the passing of the great John Madden from CBS Sports Chairman Sean McManus. pic.twitter.com/gyPhF91NGy
— NFL on CBS...
A statement on the passing of the great John Madden from CBS Sports Chairman Sean McManus. pic.twitter.com/gyPhF91NGy
— NFL on CBS...
- 12/29/2021
- by Erik Pedersen
- Deadline Film + TV
Disney beat forecasts for its fiscal first quarter with revenue of $16.9 billion, versus $20 billion the year before. The media giant’s diluted earnings per share was 32 cents versus $1.53 as the pandemic continued to squeeze businesses from parks and live shows to production to theatrical revenue.
However, It’s fair to say the first quarter – of the fiscal year ending in Sept. – was groundbreaking as Disney+ took the stage. As a testament to how dramatically streaming reshaped the business, the company is splitting its financial report into two major areas – media and entertainment and Disney parks, experiences and products.
Disney Media and Entertainment Distribution saw revenue fall 5% to $12.6 billion. Operating income of $1.45 billion was off 2% from the year before. The segment includes Linear Networks; Direct-to-Consumer and Content Sales/Licensing.
Linear Networks group together domestic and international channels from ESPN to ABC Television Network. Dtc includes Disney+, ESPN and Hulu. Content sales and licensing encompasses television,...
However, It’s fair to say the first quarter – of the fiscal year ending in Sept. – was groundbreaking as Disney+ took the stage. As a testament to how dramatically streaming reshaped the business, the company is splitting its financial report into two major areas – media and entertainment and Disney parks, experiences and products.
Disney Media and Entertainment Distribution saw revenue fall 5% to $12.6 billion. Operating income of $1.45 billion was off 2% from the year before. The segment includes Linear Networks; Direct-to-Consumer and Content Sales/Licensing.
Linear Networks group together domestic and international channels from ESPN to ABC Television Network. Dtc includes Disney+, ESPN and Hulu. Content sales and licensing encompasses television,...
- 2/11/2021
- by Jill Goldsmith
- Deadline Film + TV
Longtime ESPN SportsCenter reporter Pedro Gomez died unexpectedly on February 7. No further details were given about the cause of his death. He was 58.
James Pitaro, Chairman, ESPN and Sports Content confirmed his death in a statement saying, “We are shocked and saddened to learn that our friend and colleague Pedro Gomez has passed away.” He continued, “Pedro was an elite journalist at the highest level and his professional accomplishments are universally recognized. More importantly, Pedro was a kind, dear friend to us all. Our hearts are with Pedro’s family and all who love him at this extraordinarily difficult time.”
“Pedro was far more than a media personality. He was a Dad, loving husband, loyal friend, coach and mentor,” the Gomez family said in a statement. “He was our everything and his kids’ biggest believer. He died unexpectedly at home this afternoon.”
Gomez started working as a reporter for ESPN in 2003. Based in Phoenix,...
James Pitaro, Chairman, ESPN and Sports Content confirmed his death in a statement saying, “We are shocked and saddened to learn that our friend and colleague Pedro Gomez has passed away.” He continued, “Pedro was an elite journalist at the highest level and his professional accomplishments are universally recognized. More importantly, Pedro was a kind, dear friend to us all. Our hearts are with Pedro’s family and all who love him at this extraordinarily difficult time.”
“Pedro was far more than a media personality. He was a Dad, loving husband, loyal friend, coach and mentor,” the Gomez family said in a statement. “He was our everything and his kids’ biggest believer. He died unexpectedly at home this afternoon.”
Gomez started working as a reporter for ESPN in 2003. Based in Phoenix,...
- 2/8/2021
- by Dino-Ray Ramos
- Deadline Film + TV
Disney will massively ramp up the volume of Marvel and Star Wars series on its Disney+ streaming service.
Kareem Daniel, Chairman, Media and Entertainment Distribution for The Walt Disney Company, revealed Wednesday during the Disney Investor Day presentation that it would launch “roughly” 10 Marvel series, 10 Star Wars series and 15 live-action, animation and Pixar series over the next few years.
“With these Disney+ originals, along with theatrical releases and library titles, we will be adding something new to the service every week,” he said.
Fifteen all-new Disney live-action, Disney Animation, and Pixar features will also be released directly on Disney+.
This comes as the second season of The Mandalorian is wrapping up on the service.
Disney, which unveiled the news as part of its presentation, didn’t give any detail on the series, but it is likely to include the upcoming Cassian Andor series, which is a prequel of Rogue One...
Kareem Daniel, Chairman, Media and Entertainment Distribution for The Walt Disney Company, revealed Wednesday during the Disney Investor Day presentation that it would launch “roughly” 10 Marvel series, 10 Star Wars series and 15 live-action, animation and Pixar series over the next few years.
“With these Disney+ originals, along with theatrical releases and library titles, we will be adding something new to the service every week,” he said.
Fifteen all-new Disney live-action, Disney Animation, and Pixar features will also be released directly on Disney+.
This comes as the second season of The Mandalorian is wrapping up on the service.
Disney, which unveiled the news as part of its presentation, didn’t give any detail on the series, but it is likely to include the upcoming Cassian Andor series, which is a prequel of Rogue One...
- 12/10/2020
- by Peter White
- Deadline Film + TV
The Walt Disney Company’s Monday announcement that it was undertaking a major reorganization of its film and television teams with a goal of bolstering its streaming services was a hit with investors. Shares of the entertainment giant rose on the news that the company would refocus its operations to produce movies and shows and decide at a later date if they would debut on the big screen, cable or streaming arms Hulu and Disney Plus.
If Disney was hoping that the news would focus Wall Street’s attention on growth in streaming rather than the considerable distress facing its theme parks, the plan worked like a charm. Instead of dwelling on the fact that Covid-19 has depressed attendance at the parks it has been able to open in Asia, Europe and Florida, and left other venues such as Disneyland shuttered indefinitely, the narrative heading into Disney’s next earnings...
If Disney was hoping that the news would focus Wall Street’s attention on growth in streaming rather than the considerable distress facing its theme parks, the plan worked like a charm. Instead of dwelling on the fact that Covid-19 has depressed attendance at the parks it has been able to open in Asia, Europe and Florida, and left other venues such as Disneyland shuttered indefinitely, the narrative heading into Disney’s next earnings...
- 10/14/2020
- by Matt Donnelly and Brent Lang
- Variety Film + TV
News comes as International Union of Cinemas rebukes studio over pulling Soul from theatrical release in select markets.
Disney on Monday (October 12) announced a restructure of its media and entertainment divisions to aggressively support and grow the streaming services led by Disney+, which has thrived during the pandemic.
The news comes on the day the International Union of Cinemas said cinema operators were “shocked and dismayed” after Disney pulled next month’s theatrical release of Pixar’s Soul and moved it to Disney+ in the US and other territories where the service operates.
Under a new media and entertainment distribution...
Disney on Monday (October 12) announced a restructure of its media and entertainment divisions to aggressively support and grow the streaming services led by Disney+, which has thrived during the pandemic.
The news comes on the day the International Union of Cinemas said cinema operators were “shocked and dismayed” after Disney pulled next month’s theatrical release of Pixar’s Soul and moved it to Disney+ in the US and other territories where the service operates.
Under a new media and entertainment distribution...
- 10/12/2020
- by Jeremy Kay
- ScreenDaily
The Walt Disney Company announced a broad structural reorganization of its media and entertainment businesses Monday, in a move to ramp up and streamline its direct-to-consumer strategy. That involves the creation of the new Media and Entertainment Distribution group, which will oversee all content monetization and streaming operations. Kareem Daniel, most recently president of consumer products, games and publishing at Disney, will lead the unit.
The move comes just under a year after the launch of Disney Plus, which has since surpassed the 60 million subscriber mark.
Under the new structure, the studios will continue to develop and produce originals for Disney’s streaming services — which include Disney Plus, Hulu and ESPN Plus — and legacy platforms. Distribution and commercialization will now be centralized under the Media and Entertainment Distribution group.
“Given the incredible success of Disney+ and our plans to accelerate our direct-to-consumer business, we are strategically positioning our Company to...
The move comes just under a year after the launch of Disney Plus, which has since surpassed the 60 million subscriber mark.
Under the new structure, the studios will continue to develop and produce originals for Disney’s streaming services — which include Disney Plus, Hulu and ESPN Plus — and legacy platforms. Distribution and commercialization will now be centralized under the Media and Entertainment Distribution group.
“Given the incredible success of Disney+ and our plans to accelerate our direct-to-consumer business, we are strategically positioning our Company to...
- 10/12/2020
- by Elaine Low
- Variety Film + TV
Disney CEO Bob Chapek announced a major restructuring on Monday, which will put its streaming service Disney+ at the center of the company’s operations. The new structure will be geared towards a “focus on developing and producing original content for the Company’s streaming services,” Disney said in announcing its reorganization on Monday. The most prominent change is the combination of the distribution and ad sales teams, which will be led by Kareem Daniel, who served as president of consumer products, games and publishing. The Media and Entertainment Distribution group will be in charge of running Disney’s streaming services and TV networks, in addition to oversight of P&l management and all distribution, operations, sales, advertising, data and technology functions. Rebecca Campbell will still head up Disney’s direct-to-consumer operations but now report to Daniel. Also Read: Disney Defends '78 Seconds' of 'Mulan' Footage Filmed in...
- 10/12/2020
- by Tim Baysinger
- The Wrap
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