The Walt Disney Co (NYSE:DIS) and Apple Inc (NASDAQ:AAPL) would have ended up discussing a merger between the companies if Steve Jobs would have been alive, Disney Chair Bob Iger said in an interview Tuesday.
What Happened: Iger told CNBC that, while Jobs and him never actually discussed a merger, he said a deal would have “gotten there,” reported Apple Insider.
Jobs was passionate about “everything that Disney did,” said Iger. The Disney Chair said the intersection of liberal arts and technology made Jobs’ “heart sing.”
Disney’s content would be a natural fit for the iPhone maker, said Iger. On the merger between the two companies, he said, “I'm pretty convinced we would have had that discussion.”
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Why It Matters: The Disney executive also revealed how he spent months getting to know Jobs, who was an investor and co-founder of Pixar Studios. The bond between the two reportedly grew when Disney acquired the studio.
The acquisition made Jobs Disney’s largest shareholder and a board member of the entertainment behemoth.
Jobs in turn selected Iger to succeed him on the Apple board of directors. Iger exited as a board member in 2019.
Iger stepped down as Disney CEO in 2020. He will officially give up the role of Chair at the end of 2021.
In the interview, Iger said that he began thinking about stepping down after he became too dismissive of other people’s opinions.
Price Action: On Tuesday, Disney shares closed 3.1% higher at $151.05 in the regular session. On the same day, Apple shares ended the regular session 1.9% higher at $172.99 and fell 0.2% in the after-hours session.
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