Disney CEO Explains Why He Believes 'The Marvels' Flopped at the Box Office

James Gorman, CEO of Morgan Stanley and soon to be a member of Disney‘s board of directors, is not fazed by the possibility of the media giant going through a proxy fight.

With Disney already in the midst of its “one-app” streamlining of Hulu and Disney+ in the U.S., it is also making a similar move in Latin America with Star+.

EXCLUSIVE: Two months after Julia Ormond sued CAA, Disney and Harvey Weinstein for negligence, breach of fiduciary duty, battery and more over a 1995 sexual assault by the now incarcerated Pulp Fiction EP, the uberagency and the Bob Iger-led corporation say they shouldn’t be a part of the suit and want out.

Disney has formally responded to activist shareholder Trian Fund Management’s unsolicited nominations of Trian chief Nelson Peltz and former Disney CFO James Rasulo to the media giant’s board of directors.

EXCLUSIVE: The combined Hulu and Disney+ app for bundle subscribers will launch in March with a big new attraction — the Grey’s Anatomy library, which will be offered on a Disney streaming platform for the first time.

Five years after snagging a majority stake in A3, Adam Bold is being accused of “a campaign of chaos” by the Agency’s CEO and president and being a coke addict, a “creeping” leach who created a toxic and hostile workplace, and a spendthrift who is steering “what remains of a once-great company into bankruptcy.”

The Marvels” won’t live up to its sparkling title.The Disney-produced superhero movie, from all indications, will wind up as the lowest-grossing Marvel Cinematic Universe movie in its entire 15-year history.While the film starring Brie Larson, Iman Vellani and Teyonah Parris opened less than a month ago — and has so far grossed a scant $80 million domestically and $197 worldwide — any hopes of it becoming a sleeper hit have disappeared.According to the Hollywood Reporter, the 33rd MCU film’s box office dropped a staggering 78% in its second weekend, and it’s only gotten worse from there.And Variety reported that Disney sent a note to press saying, “With ‘The Marvels’ box office now winding down, we will stop weekend reporting of international/global grosses on this title.”The previous record-holder for biggest MCU loser was 2008’s “The Incredible Hulk” starring Mark Ruffalo, with $80 million domestically and $264.7 million worldwide. The numbers for “The Marvels” are especially dire when you consider the boffo earnings of the studio’s most popular titles: “Avengers: Endgame” ($2.8 billion worldwide); “The Avengers” ($1.52 billion); “Avengers: Age of Ultron” ($1.4 billion).

The Marvels has been officially named the lowest-grossing installment in Marvel Cinematic Universe’s history.The movie, which stars Brie Larson, Zawe Ashton and Teyonah Parris, was not predicted to perform well in the box office.Against a $220million budget, the movie has grossed just $197million, unlike other Marvel movies such as Avengers: Endgame which made over $2.5billion globally in its opening weekend.The Marvels, which was released on November 10, had the worst debut weekend in the history of MCU, with only $46million in ticket sales. With only $80million made in North America, the movie is the first of the studio’s films that failed to reach the $100million milestone at the domestic box office.According to CNBC, Disney’s CEO, Bob Iger, has recently addressed the struggles that have faced the movie, saying: “The Marvels was shot during COVID.

The Marvels is achieving the kind of milestone no film wants to reach.

Disney CEO Bob Iger blames the pandemic effect as part of the reason for the dismal box office results on The Marvels.

partly blamed the debacle on a lack of “supervision.” ″‘The Marvels’ was shot during COVID,” Iger, 72, said. “There wasn’t as much supervision on the set, so to speak, where we have executives [that are] really looking over what’s being done day after day after day.” Variety previously reported that the director of “The Marvels,” Nia DaCosta, began another project during postproduction.“If you’re directing a $250 million movie, it’s kind of weird for the director to leave with a few months to go,” a source told the trade.“The Marvels,” the 33rd film in the MCU, had the lowest opening weekend at the box office ever for the franchise, grossing just $47 million domestically.

Todd Spangler NY Digital Editor Linda Yaccarino, who’s already facing an uphill battle in winning over advertisers to X, has her work cut out for her to restore trust with big marketers after her boss profanely dissed those who had suspended advertising from the platform. Almost six months into her gig as CEO of X, Yaccarino continues to try to clean up PR messes created by Elon Musk, the shoot-from-the-lip megabillionaire and self-appointed defender of free speech who owns the company formerly known as Twitter.

Disney CEO Bob Iger had plenty to say about the MCU‘s current issues at The New York Times‘ annual BookDeal summit yesterday. But CNN reports that Iger also had a multilayered explanation for why “The Marvels” did so poorly in theaters earlier this month, taking in just $47 million domestically its opening weekend.

Todd Spangler NY Digital Editor After activist investor Nelson Peltz announced his intention to renew his proxy battle to secure seats on Disney’s board, the company responded by alleging former Marvel Entertainment chairman Ike Perlmutter — who is in league with Peltz’s Trian Fund Management — has a personal grudge against Disney chief Bob Iger. In a statement responding to Trian’s announcement, Disney said that Perlmutter “was terminated from his employment by Disney earlier this year and has voiced his longstanding personal agenda against Disney’s CEO, Robert A.

Todd Spangler NY Digital Editor Nelson Peltz is renewing his fight to shake up Disney‘s board. Peltz’s Trian Fund Management investment firm, which owns about $3 billion in Disney stock, issued a statement Thursday that after the Mouse House’s board rejected Trian’s request for board seats, the hedge fund will “take our case for change directly to shareholders.” Trian is seeking two seats on Disney’s board, CNBC reported.

Zack Sharf Digital News Director Disney CEO Bob Iger said at the New York Times’ DealBook Summit (via CNBC) following “The Marvels” flopping at the box office that there was a lack of supervision on the set of the film as a result of the COVID pandemic. The combination of pandemic set restrictions and Disney’s increased output due to the launch of streamer Disney+ made it increasingly difficult for studio executives to oversee the onslaught of new productions.

The Walt Disney Co. has added former Group CEO of Sky Jeremy Darroch and Morgan Stanley CEO James Gorman to its board of directors and said Francis A. deSouza plans to surrender his seat at the end of his term.

Jennifer Maas TV Business Writer Disney‘s board named Morgan Stanley CEO James Gorman and former Sky chief Jeremy Darroch as new directors Wednesday. Additionally, Disney has announced that board member Francis A. deSouza, former president and CEO of Illumina, will not stand for reelection at the company’s upcoming annual meeting, “as he pursues new opportunities in the technology sector that will require his full attention.” The news comes one day after Disney held a company-wide town hall featuring CEO Bob Iger and his top lieutenants discussing the state of the business.

Jennifer Maas TV Business Writer Disney CEO Bob Iger focused on instilling employees with renewed optimism about the Mouse House’s “blessed” and “fortunate” state during a virtual company-wide town hall Tuesday, rather than making any proclamations about the company’s future. The event, moderated by ABC News’ David Muir, was held just over a week after the one-year anniversary of Iger’s return to the helm at Disney (Iger hosted a similar town hall exactly a year ago to the day, upon resuming his post last November) following the surprise ousting of Bob Chapek, and on the heels of Disney reporting its most recent quarterly and full-fiscal-year earnings and taking a stumble at the Thanksgiving holiday box office with new animated film “Wish.” When asked by Muir if coming back to the position of CEO has been more challenging than he had anticipated, Iger, who originally ran Disney for 15 years from 2005-2020, said yes. “I knew that there were myriad challenges that I would face coming back,” Iger said.

When The Marvels hit theaters earlier this month, it was just hours after the SAG-AFTRA strike had ended.