Is The Walt Disney Company for Sale?

What would your reaction be if The Walt Disney Company was placed for sale? Bob Iger has revealed plans for the restructuring of the company at a recent media conference.

Bob Iger and The Walt Disney Company

Bob Iger is a prominent figure in the entertainment industry who currently serves as the CEO of The Walt Disney Company He recently extended his contract as CEO until 2026. Under his leadership, Disney experienced significant growth and expansion, solidifying its position as one of the world’s leading entertainment conglomerates.

During Iger’s tenure, Disney has acquired several major entertainment companies, including Pixar Animation Studios in 2006, Marvel Entertainment in 2009, Lucasfilm (the creator of the “Star Wars” franchise) in 2012, and 21st Century Fox in 2019. These acquisitions greatly expanded Disney’s portfolio of intellectual properties and allowed the company to capitalize on popular franchises across various media platforms.

Under Iger’s guidance, Disney made significant strides in the streaming industry. In 2019, the company launched Disney+ as a direct-to-consumer streaming service, offering a wide range of Disney, Pixar, Marvel, Star Wars, and National Geographic content. The platform quickly gained popularity and became a significant competitor in the streaming market.

Overall, Bob Iger’s tenure at Disney has been marked by transformative acquisitions, strategic expansion, and a focus on embracing new technologies and platforms. However, though he is known to be a buyer of franchises for the company, a recent interview revealed the opposite.

Selling Parts of the Company

People are familiar with streaming platforms, as Disney+ was launched in 2019. However, over the years, the number of subscribers has dwindled drastically. Disney’s streaming services have been losing money and subscribers — Disney+ lost 4 million subscribers last quarter, as previously reported. Streaming is expected to have hit a total loss of $800 million in the third quarter.

During an interview conducted by David Faber at the media conference in Sun Valley, Idaho. Iger agreed that ABC, Freeform, and FX “may not be core” to The Walt Disney Company as cable television is on the decline.

Faber speculated about a possible sale, and Iger said, “We have to be open-minded and objective about the future of those businesses.” 

Iger did note that he plans to ultimately sell or restructure Disney’s TV and streaming business in India, which was Disney+’s most significant loss. Disney+ Hotstar, the region’s version of Disney+, lost streaming rights to Indian Premier League (IPL) cricket matches, leading to the service losing 3.8 million subscribers in quarter one and 4.6 million subscribers in Quarter 2.

Iger’s idea is to keep Hulu, as Disney plans to launch a combined app for Hulu and Disney+ later this year. Additionally, he intends to keep ESPN. However, he is looking for a partner for the sports network. Potential partners who have reached out are various sports companies, including Fanatics and the most infamous tech. company, Apple.

Apple Purchasing the Disney Company?

Since Iger’s return as CEO of the Disney Company, rumors began circulating that he was planning to sell the entire Disney Company to Apple, the tech company. However, at the time, Iger denied the rumors. With the recent downsizing of different departments throughout the Disney Company and now the selling of the company’s TV and streaming assets, the question remains how far would he go in selling all of Disney, and most importantly, to whom?

What would The Walt Disney Company become if it got into the hands of a big tech company like Apple? Would we notice differences in the parks, resorts, animation and film, cruise lines, and more? Time will only tell, as Iger has about two and a half years to go as Disney’s CEO.

What are your thoughts about Iger selling the company’s TV and streaming assets and possibly the company itself? Please share this article with a fan of all things Disney!