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The Latest Breaking News from Bob Chapek

Disney CEO axes metaverse unit and almost everyone in it, with another 6,950 cuts to go

Bob Iger once said the tech would democratise the internet, but apparently it's not right for Disney.

PC Gamer

Victoria Alonso claims she was fired by Disney after ‘refusing’ to make ‘reprehensible’ Marvel movie edit

’Victoria, a gay Latina who had the courage to criticise Disney, was silenced,’ her attorney said

The Independent UK

Following Bob Iger’s Viral Email, The Layoffs At Disney Have Begun

7,000 Disney Cast Members are set to be laid off before the summer.

Cinemablend

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read the most diverse news in one place.

Disney Dumps Metaverse Aspirations. That Was an Easy Decision

The first of Disney’s 7,000 job cuts have begun to happen. One of the decisions was to eliminate approximately 50 jobs from its metaverse-driven next-generation storytelling unit. The move makes abundant sense. Here’s why.

Barchart

Bob Chapek’s Metaverse Unit Gets Whacked Amid Disney’s Mega-Cuts

The ‘Next Generation Storytelling and Consumer Experiences’ division was one of the former Disney CEO’s pet projects

Broadcasting & Cable

Disney joins Microsoft and Snapchat as latest big-name company to slink away from metaverse ambitions

Companies are moving away from the nascent industry as regulators increasingly scrutinize crypto and the buzz around A.I. rises.

Fortune

Disney layoffs begin this week. Iger says 7,000 job cuts to finish before summer

Walt Disney Co. this week begins its plan to cut 7,000 jobs as part of a wider effort to rejuvenate the Burbank entertainment giant's finances and reach profitability at its streaming business.

Los Angeles Times

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Attorney for former Marvel executive Victoria Alonso says she was silenced as 'a gay Latina.' Disney calls claim 'unfortunate'

LOS ANGELES — An attorney representing former Marvel Studio executive Victoria Alonso, who was fired earlier this week from the Walt Disney Co.-owned superhero juggernaut, is firing back at reports that she was pushed out over an Oscar-nominated film she produced.

Los Angeles Times

Is Disney a Good Stock to Buy Right Now?

Entertainment giant Walt Disney (DIS) recently notched its 52-week low of $84.07. The stock is expected to be on a downward trajectory as the company grapples with higher streaming expenses, fears of declining consumers’ discretionary spending, and other macroeconomic headwinds. However, given DIS’ solid revenue growth in the first quarter…

StockNews.com

Bob Iger admits Disney theme park pricing moves were 'a little too aggressive'

Walt Disney Co. Chief Executive Bob Iger acknowledges his company goofed on some of its pricing strategies.

Los Angeles Times

Is It Time to Buy or Sell Disney Stock in 2023?

Media and entertainment giant Walt Disney (DIS) reported fiscal 2023 first-quarter financial results, beating on the top and bottom lines. However, amid the high cost of streaming, eroding consumers’ discretionary spending, and other macroeconomic challenges, the company’s near-term prospects look bleak. Let’s find out if investors should buy or sell…

StockNews.com

The inside story of how Nelson Peltz got his way at Disney—and his detailed plan for a rebound

His turnaround playbook helped rescue P&G and Heinz. Now the tenacious reformer wants Disney to tackle unprofitable brands, huge overhead, and do away with "matrix" management.

Fortune

Disney+ Could Be Changing Its Marvel Plan: Here’s What Viewers Should Know

One of the keys to the success of The Walt Disney Company (NYSE: DIS) over the years may be its acquisition of Marvel Entertainment, which was announced in 2009

Zenger

Is Disney Stock a Buy or Sell in 2023?

Amid a sudden change at the helm and challenged by losses in its streaming business, Disney (DIS) has a lot of near-term uncertainties to deal with. Let’s discuss why the stock might be best avoided now. Read on….

StockNews.com

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The Orange County Register

Disney World’s struggling $5,000 Star Wars hotel slashes prices, cancels summer dates

Walt Disney World’s highly hyped Star Wars hotel that debuted to months of sold out “voyages” has seen demand cool so dramatically that the Florida theme park giant has been forced to offer steep discounts on the pricey experience and cancel dates in the middle of summer.

The Independent UK

Peltz, citing changes at Disney, ends push for set on board

Activist investor Nelson Peltz is calling off a proxy fight with Disney one day after newly returned CEO Bob Iger announced a major restructuring of the company that includes thousands of job cuts

Fortune

Disney CEO Bob Iger speaks out about replacing Bob Chapek fresh off a major restructure announcement saying he 'created a huge divide'

New CEO says he “was not looking for a job” when he got the call.

Chicago Sun-Times

Disney to cut 7,000 jobs in Bob Iger’s ‘transformation’ of entertainment giant

The cuts make up about 3% of Disney’s 220,000-person global workforce and come as the company beat Wall Street’s earnings forecasts.

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Los Angeles Times

Bob Iger signals ‘significant transformation’ as Disney+ loses 2.4 million subscribers

Bob Iger is back at Walt Disney Co., but that doesn’t mean the entertainment giant is out of the woods yet.

Fortune

Disney urges shareholders to bin Nelson Peltz voting ballots

The Mouse House voiced skepticism as to the Trian co-founder's motives, arguing he lacks the necessary experience and would be disruptive at a key juncture in time for the media industry.

Fortune

Disney exec paid equivalent of $3.4 million a month for brief 3-month stint

Morrell left Disney after a tumultuous few months at the company that saw it embroiled in a row over the Florida's so-called "don't say gay" bill.

Fortune

Disney’s $5,000-per-package Star Wars-themed hotel is slashing prices as Iger navigates his latest headache

The Galactic Starcruiser is struggling to live up to expectations less than a year after launching.

Los Angeles Times

Michael Hiltzik: A cowardly NHL bows down to a bullying DeSantis

Most children, probably by the age of 10, have learned the lesson that the worst way to placate bullies is to give them what they want.

Fortune

Here's what Disney's ousted CEO will receive for severance

Compare that to his 2021 salary of $32.5 million.

Los Angeles Times

Disney blasts activist shareholder campaign. Marvel chair played a role in board fight

The Walt Disney Co. has come out swinging against activist shareholder Nelson Peltz's campaign to join the company's board of directors, saying the billionaire lacks a basic understanding of Disney's business and has offered no strategic ideas.

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