When Michael Eisner was making a ceremonial exit as Disney’s CEO in 2005 he acknowledged that the intrigues of succession had become “Shakespearean.” Rival corporate factions were vying for power. Some insiders were persuaded that Eisner never would actually depart.
Disney Plans Layoffs, “Rigorous Review” Of Spending & Hiring Freeze; “Tough & Uncomfortable Decisions” Coming, CEO Bob Chapek Tells Staff
12.11.2022 - 01:47 / deadline.com
Reeling from a roller coaster stock market and earnings misses, the Walt Disney Company is about to start cutting spending, costs, and staff, CEO Bob Chapek said today.
“I am fully aware this will be a difficult process for many of you and your teams,” Chapek wrote to Disney employees this Veterans’ Day as the House of Mouse heads into its 100th anniversary. “We are going to have to make tough and uncomfortable decisions,” he assed in the memo. “But that is just what leadership requires, and I thank you in advance for stepping up during this important time.” (Read the full memo below)
Like its media peers, the approximately 190,000-employee strong Disney has felt the pain in 2022, with its stock down more than 40% and inflation, foreign currency fluctuation and the bruising streaming competition applying pressure to its operations. Earlier this week, the company reported quarterly earnings below Wall Street earnings expectations and also issued strikingly soft guidance for fiscal 2023 revenue and profit, further unnerving investors.
Pay-TV losses have hurt Disney, though the company has vowed to turn a profit in streaming by the end of fiscal 2024. Its austerity move and hiring freeze follow a series of reorganizations after it acquired most of 21st Century Fox in an industry-changing, $71.3 billion deal in 2019. It has gone to a simplified corporate structure with just two divisions: Parks, Experiences and Products and Media and Entertainment Distribution.
Disney is far from the only company reducing its workforce.
Warner Bros Discovery, which is battling to reduce debt from the $43 billion merger of WarnerMedia and Discovery that closed last April, has also initiated several rounds of cost cuts. NBCUniversal has
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
deadline.com
30.11.2022 / 03:29
AMC Networks To Cut 20% Of U.S. Workforce As Cord Cutting, Streaming Costs, Economic Jitters Roil Media
A media sector squeezed by streaming losses, anemic stocks, layoffs and executive turmoil unveiled its latest casualties today – 20% of AMC Networks’ U.S. staff, or about 200 people, along with the departure of CEO Christina Spade.
deadline.com
28.11.2022 / 22:35
Bob Iger Tells Disney Town Hall Hiring Freeze Still In Effect, No New Acquisitions Planned & Not Merging With Apple
“There is a lot to do,” Bob Iger told Disney staffers today of the state of the company he is now running again. “Quickly,” added the newly re-minted CEO at a town hall at the company’s Burbank HQ heralding his official return.
deadline.com
28.11.2022 / 14:47
Channel 5 Hails ‘Black Cab’; The Garden Hires; Ealing Studios Expansion; Catherine Martin Award; Sky Comedy Rep — Global Briefs
Channel 5 Hails ‘Black Cab’ With Robert Glenister, Suzanne Packer & Sean Pertwee
deadline.com
27.11.2022 / 23:21
‘Strange World’ To Lose $147M: Why Theatrical Was Best Decision For Doomed Toon –Not Disney+– As Bob Iger Takes Over CEO From Bob Chapek
Death, taxes and films that bomb at the box office.
deadline.com
23.11.2022 / 01:39
Disney Stock Falters On Day 2 Of Bob Iger Reboot As Investors Gauge Impact Of CEO Shuffle
Disney stock faded more than 1% on the second day of Bob Iger’s return engagement as CEO, reflecting investors’ divergent outlooks on the media giant’s prospects
deadline.com
22.11.2022 / 18:59
Jimmy Kimmel Likens Bob Iger To Classic Coke
The surprise return of Bob Iger as Disney CEO, replacing his own replacement Bob Chapek, is not without precedent in corporate America, as Jimmy Kimmel reminded viewers last night.
completemusicupdate.com
22.11.2022 / 13:53
Bob Dylan book buyers refunded after “hand signed” copies turn out not to be
Simon & Schuster has admitted that the 900 “hand signed” copies of Bob Dylan’s new book ‘The Philosophy Of Modern Song’ – which the publisher sold through its website – were not actually signed by either of Dylan’s hands. Or anyone else’s for that matter.
deadline.com
22.11.2022 / 04:33
Bob Iger’s Pay Package Is Revealed As Exec Spends His First Day Back In Disney CEO Chair
Bob Iger, who was reinstalled as CEO of the Walt Disney Co. yesterday, will be eligible to receive up to $27 million in each of the two years he is under contract to lead the company.
deadline.com
22.11.2022 / 04:33
Did Someone Save Disney’s Life Last Night? Behind Bob Iger’s Stunning CEO Return & What’s Next For Media Giant
Many Disney employees woke up this morning trying to make sense of a surreal Sunday night that some say felt like a dream.
deadline.com
22.11.2022 / 01:41
Kareem Daniel Exits Disney As Bob Iger Sets Restructuring Of Media And Entertainment Distribution Division
Kareem Daniel is exiting Disney as head of its Media and Entertainment Distribution division, one day after the ouster of CEO Bob Chapek.
deadline.com
21.11.2022 / 23:21
AMC CEO Adam Aron Extols Return Of Bob Iger To Disney: “Let Me Shout This From The Mountain Top”
Among those quite happy with the re-installment of Bob Iger as Disney’s CEO was exhibition giant, AMC’s Adam Aron, who took to Twitter in the wake of the news exclaiming, “Based on box office grosses, Disney is the biggest film maker of any movie studio. Bob Iger coming back to again lead Disney as its CEO is a big deal. Let me shout this from the mountain top. I have the absolute highest respect for Bob Iger.”
theplaylist.net
21.11.2022 / 19:57
Bob Iger Back As Disney CEO, Ousting Bob Chapek After Less Than Two Years
So much for the retired life of Bob Iger. Deadline reports that after less than a year into retirement, Iger returns to the Walt Disney Company as CEO.
deadline.com
21.11.2022 / 18:07
Disney Shares Surge As Investors See Bob Iger Wielding Magic Wand In Return To CEO Role
Disney shares busted out of the starting gate, rising 8% in early trading on a wave of optimistic sentiment about Bob Iger’s return engagement as CEO.
thewrap.com
21.11.2022 / 15:33
Disney Stock Spikes 9% After Bob Iger’s Sudden Return as CEO
Wall Street has already embraced the news that Bob Iger has returned as Disney’s CEO, replacing Bob Chapek’s short and tumultuous reign: Shares in the entertainment giant climbed nearly 9% in premarket trading on Monday, to $99.85. Chapek, the former Disney parks chief who himself replaced Iger as CEO less than two years ago, has struggled during his brief tenure amid COVID pressures, economic issues as well self-inflicted management wounds — and Disney’s shaky revenue picture has driven its stock price down 41% since the start of the year.
deadline.com
21.11.2022 / 08:15
Bob Iger Returns To Disney With “Gratitude”, “Humility” And “A Bit Of Amazement”
Disney’s Bob Iger reached out to House of Mouse employees Sunday with the shocking news that he’s replacing Bob Chapek as chief executive, effectively immediately, noting “an incredible sense of gratitude and humility—and, I must admit, a bit of amazement.” He’s not the only one.
deadline.com
21.11.2022 / 06:03
Disney Shocker! Bob Iger Back As CEO, Bob Chapek Out
After less than a year in retirement, Bob Iger has returned as the CEO of the Walt Disney Company
theplaylist.net
16.11.2022 / 23:03
‘Going Electric’: Timothée Chalamet Says His Bob Dylan Biopic Is Still In The Works & Moving In A “Very Positive Direction”
Remember, January 2020? Sure, the world still felt as if it was going to fall apart, but we had no idea the COVID pandemic was just on the horizon. It was page 2 news, at best.
deadline.com
15.11.2022 / 20:41
Endeavor To Put Hiring Freeze In Place After Thanksgiving, President Mark Shapiro Reveals
A hiring freeze at Endeavor Group Holdings will take effect after Thanksgiving, company president Mark Shapiro revealed at a conference hosted by Wall Street firm RBC Capital Markets.
deadline.com
10.11.2022 / 17:35
‘Bob Fosse’s Dancin’ Returns To Broadway This Spring
Bob Fosse’s Dancin’ will return to Broadway this spring, 41 years after the original hit production left the stage.