Disney Under Siege | Restore the Magic | 1
Business Wars
Deep Dive
Why did Bob Iger strip Ike Perlmutter of control over Marvel's movie output?
Iger believed Perlmutter was hindering Marvel Studios' success by not providing sufficient budgets and creating friction with Kevin Feige, the key executive behind Marvel's box office success.
What challenges did Disney face during the COVID-19 pandemic?
The pandemic shut down Disney's theme parks, halted movie production, canceled ESPN sports broadcasts, and disrupted its business operations, leading to significant financial strain.
Why did Disney's stock price fall by a third in 2022?
The decline was due to a combination of factors, including box office failures, Disney+ losses, cultural controversies like the 'Don't Say Gay' law, and Florida Governor Ron DeSantis' move to strip Disney World of its special tax status.
What was Nelson Peltz's strategy to influence Disney?
Peltz aimed to gain a seat on Disney's board by investing heavily in the company and pushing for cost-cutting measures, restructuring, and greater financial discipline to boost stock value.
What was Bob Iger's response to Nelson Peltz's criticisms?
Iger announced a $5.5 billion cost-saving plan, including a 7,000-job reduction, reassessing overseas activities, and reinstating a dividend to address Peltz's concerns and stabilize Disney's stock.
Why did Nelson Peltz end his proxy fight against Disney?
Peltz declared victory after Iger implemented the cost-cutting measures he had advocated for, making the proxy fight unnecessary and allowing Peltz to profit from his Disney stock investment.
What was the outcome for Ike Perlmutter after Disney's reorganization?
Perlmutter was informed that Marvel Entertainment would be disbanded and folded into larger Disney units, effectively ending his role within the company.
How much did Nelson Peltz's investment in Disney grow during his proxy fight?
Peltz's stake in Disney grew in value by an estimated $200 million in less than three months, and he locked in $60 million in profits by selling a portion of his shares.
What was the impact of Disney's reorganization plan on its stock price?
Disney's stock rose 5% following the announcement of the $5.5 billion cost-saving plan and the reinstatement of a dividend, reaching its highest level since August 2022.
Why did Disney's board bring back Bob Iger as CEO?
The board lost confidence in Bob Chapek's leadership and believed Iger, who had previously quadrupled Disney's market value, was the best person to stabilize the company during its crisis.
Shownotes Transcript