Bob Iger Admits Saying That Linear Television May Not Be Core to Disney Was a Mistake
Bob Iger sent shockwaves through the ever-changing media landscape last year when he publically announced that his company’s linear television stations may not be “core to Disney.”
In an interview with CNBC’s David Farber, Iger revealed that he had been “very pessimistic” about the future of traditional television and that when he returned, things were even worse than he expected.
Photo: Variety
Looking at the media landscape in 2023, Iger noted that Disney was going to have to be flexible.
“We are going to be expansive… We are just getting at that work. But we have to be open-minded and objective about the future of those businesses,” Iger said.
When pressed if his statement meant that Disney’s television stations may not be essential to their business, Iger bluntly answered in the affirmative.
(Charley Gallay / Getty Images for Disney)
“They may not be core to Disney. The creativity and content they create are core to Disney, but the distribution model, the business model that forms the underpinning of that business and that has delivered great profits over the years, is definitely broken. And we have to call it like it is.”
The Comments Sent Shockwaves
It was a shocking admission for an executive who has been a leader in television for almost 50 years.
Iger’s comments quickly grabbed headlines and led to speculation that Disney could divest itself of some of its networks. In particular, the future of ABC looked to be in doubt.
ABC
In the subsequent months, rumors circulated that Disney would sell off ABC. At the tie, both Byron Allen and Nexstar were said to be interested in buying the legendary network.
Iger Admits He Made a Mistake
While a sale ended up not coming to fruition, Iger’s comments still created an air of uncertainty around the future of Disney television.
In a recent interview on Let’s Talk Off Camera With Kelly Ripa, Iger discussed his surprising comments.
NBC News
While the Disney CEO still believes his observations on the television industry were correct, he regrets making his views so public.
“I wasn’t wrong about my observation, but it wasn’t necessary for me to utter those words publicly because it caused an incredible amount of anxiety,” Iger said.
Photo: Getty Images
“I should have been more sensitive to how those words would be not just interpreted, but how they would be felt by people who are really important to me, who are even Disney Legends.”
What the Disney CEO Was Trying to Accomplish
According to Iger, his goal in the July 2023 interview was to show Wall Street that the company was flexible about its business going forward. He also wanted to show that he understood the rapidly changing media business.
Photo: Disney
“I was intent on communicating to Wall Street an open-mindedness in general about our business in the future, and I wanted them to know – this was after I came back to Disney – that my head was not in the sand,” he said.
The CEO’s goal was to show that “everything’s on the table.”
Photo: Disney
“That was a mistake, it turns out,” he admitted.
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