Highlights From CNBC’s Squawk Box Interview with Disney CEO Bob Iger
In case you missed it, Disney CEO Bob Iger has been in the news quite a bit lately.
Photo: Disney
You may have heard Iger’s comments about the ongoing feud between Disney and Florida Governor Ron DeSantis, and just yesterday, it was announced that Iger’s initial short-term return to The Walt Disney Company would be extended until December 2026.
Now he has appeared on CNBC’s Squawk Box to talk about a few more important issues!
On His Extended Contract
The interview began with questions about the decision for Iger to stay at The Walt Disney Company, with Iger noting that he “did like retirement,” “but the board believed that there was a lot more work to do and the timetable we established was putting undue pressure on us.”
As we stated earlier, Iger’s contract was extended by two years.
"A lot of work has been accomplished in the 7 or so months since I've been back. But the board believed that there was a lot more work to do and the time table we established was putting undue pressure on us," says @Disney CEO @RobertIger. pic.twitter.com/tFZJz8NT0h
— Squawk Box (@SquawkCNBC) July 13, 2023
On Hulu
Iger also discussed the likelihood of Disney buying the Hulu stake from Comcast and said that the current plan is for Hulu and Disney+ to merge and be available as a dual offering by the end of 2023. Disney is also interested in staying in the sports business.
He “ultimately concluded that we would be better off having Hulu than not having Hulu.”
"When I came back I was open-minded about Hulu," says $DIS CEO @RobertIger. "I ultimately concluded that we would be better off having #Hulu than not having Hulu." pic.twitter.com/gS0YD6m8D5
— Squawk Box (@SquawkCNBC) July 13, 2023
On Creative
Iger also reflected on the recent box office disappointments, saying that the problem is not due to personnel but that the “zeal to grow our streaming content” “diluted focus and attention,” citing Marvel in particular as an issue.
He noted that the three Pixar releases that were released straight to Disney+ may have weakened a sense of urgency for audience members to see future Pixar movies in the theater, but he also stated, “There have been some creative misses.”
"There have been some disappointments. We would have liked some of our recent releases to perform better," says $DIS CEO @RobertIger. "There have been some creative misses." pic.twitter.com/0Y6vOMZ8jW
— Squawk Box (@SquawkCNBC) July 13, 2023
On SAG-AFTRA and WGA Strike
Iger called the recent WGA strike and looming SAG-AFTRA strike “disturbing,” and said, “This is the worst time in the world to add to that disruption,” referring to the current state of the entertainment industry recovering post-COVID-19.
He noted that while he could appreciate their efforts and believes writers and actors should be compensated fairly, “there is a level of expectations that they have that is just not realistic.”
"There is a level of expectations that [the writers and actors] have that is just not realistic," says $DIS CEO @RobertIger on the @sagaftra and WGA strike. "They are adding to a set of challenges that this business is already facing and that is very disruptive." pic.twitter.com/ySYvfQBYA5
— Squawk Box (@SquawkCNBC) July 13, 2023
On Ron DeSantis and Low Attendance
And finally, Iger disregarded the recent Wall Street Journal article that covered the recent low attendance in Disney World, calling it “not accurate.”
When it comes to the feud between Disney and Florida Governor Ron DeSantis, Iger said that it is “not our goal to be involved in a culture war,” but that they could not “sit back and tolerate” DeSantis’ alleged retaliation against Disney.
In the CNBC interview, Bob Iger further discussed the dispute with Florida Gov. Ron DeSantis, the lawsuit the company filed and his response to the governor calling Disney a "woke" company. pic.twitter.com/OriMH6tnYU
— Ashley Carter (@AshleyLCarter1) July 13, 2023
We’ll be breaking down this interview further, so stay tuned for more! Keep following MickeyBlog for more Disney news!
