Bob Chapek: Last News

Kareem Daniel is exiting Disney as head of its Media and Entertainment Distribution division, one day after the ouster of CEO Bob Chapek.

Bob Iger, who was reinstalled as CEO of the Walt Disney Co. yesterday, will be eligible to receive up to $27 million in each of the two years he is under contract to lead the company.

Among those quite happy with the re-installment of Bob Iger as Disney’s CEO was exhibition giant, AMC’s Adam Aron, who took to Twitter in the wake of the news exclaiming, “Based on box office grosses, Disney is the biggest film maker of any movie studio. Bob Iger coming back to again lead Disney as its CEO is a big deal. Let me shout this from the mountain top. I have the absolute highest respect for Bob Iger.”

Disney shares busted out of the starting gate, rising 8% in early trading on a wave of optimistic sentiment about Bob Iger’s return engagement as CEO.

Disney’s Bob Iger reached out to House of Mouse employees Sunday with the shocking news that he’s replacing Bob Chapek as chief executive, effectively immediately, noting “an incredible sense of gratitude and humility—and, I must admit, a bit of amazement.” He’s not the only one.

After less than a year in retirement, Bob Iger has returned as the CEO of the Walt Disney Company

A hiring freeze at Endeavor Group Holdings will take effect after Thanksgiving, company president Mark Shapiro revealed at a conference hosted by Wall Street firm RBC Capital Markets.

Reeling from a roller coaster stock market and earnings misses, the Walt Disney Company is about to start cutting spending, costs, and staff, CEO Bob Chapek said today.

Black Panther: Wakanda Forever has already sold more than $45 million in advance domestic sales, ahead of its opening Friday in around 4,300 domestic cinemas.Sources confirmed the totals from the Marvel Studios film to The Hollywood Reporter, as Walt Disney Co. CEO Bob Chapek noted the strong start in a company’s earnings call on Tuesday.He said director Ryan Coogler 'has delivered another culture-defining film' as 'evidenced by advance ticket sales.' The latest: Black Panther: Wakanda Forever, starring Angela Bassett and Letitia Wright, has already sold more than $45 million in advance domestic sales, ahead of its opening Friday in around 4,300 domestic cinemasThe film Wednesday was slated to commence with its international rollout ahead of a mass opening (except for China and Russia), with domestic projections of around a minimum of $175 million, and between $155 million to $195 million in international box office totals.The film's $45 million in domestic presales - which could swell to up to $65 million by Friday - were less than Doctor Strange and the Multiverse of Madness, but more than Thor: Love and Thunder, Disney sources told the outlet.

Disney CEO Bob Chapek called Disney+ a “lifestyle portal for Disney fandom” and streaming the nexus of a “reengineered” company that would never have survived and thrived for a century if it didn’t take bold swings.  

Addressing Wall Street analysts during Disney’s quarterly earnings call, the company’s top executives sought to emphasize their progress toward attaining streaming profitability.

Advance ticket sales through Sunday for Disney-Marvel Studios’ Black Panther: Wakanda Forever stand at $45M, about 20% behind Doctor Strange in the Multiverse of Madness at the same point in time and 40% ahead of Thor: Love & Thunder.

It is quite clear from a theatrical and a streaming front, Disney is already dominating.

The Walt Disney Co., after some cage-rattling by activist investor Daniel Loeb, has added former Viacom and Facebook exec Carolyn Everson to its board of directors.

Gene Maddaus Senior Media Writer The Human Rights Campaign has agreed to accept a contribution from the Walt Disney Co., months after rejecting it at the height of the “Don’t Say Gay” controversy. The move comes as Disney continues to try to heal the damage done by its response to Florida’s Parental Rights in Education law, which restricts classroom instruction on LGBTQ identity. Disney initially declined to take a public position on the measure, leading to a major backlash among its employees. As the furor mounted, CEO Bob Chapek announced that the company would oppose the law and make a $5 million donation to HRC and other gay rights organizations. But HRC rejected the money, saying it first wanted to see the company “build on their public commitment” by working closely with LGBTQ organizations.

Brian Steinberg Senior TV Editor As a top executive at Facebook and Instacart, Carolyn Everson knows a lot about the habits of tech-savvy consumers. Soon, she may be able to help Walt Disney Co. figure out how to harness them. Disney plans to expand its board of directors to 12 from 11 and nominated Everson as a new member. The move is supported by Third Point LLC, the activist investor that in August took a new stake in Disney and suggested a litany of big moves, such as spinning off ESPN or buying out Comcast’s ownership of Hulu. “We have a productive and collegial relationship with Third Point, with whom we share a deep commitment to continue building on Disney’s many successes and increasing shareholder value,” said Disney CEO Bob Chapek in a prepared statement.

While the Emmys drew mixed reviews, the film festivals closed to strong applause this week, not only for their movies (we’d forgotten some) but for their star turnout (forgot a few of them, too).

With a bit more than a year left before Disney can buy out Comcast’s financial stake in Hulu, Comcast CEO Brian Roberts pushed back on Disney CEO Bob Chapek’s suggestion that Hulu’s value has declined amid public market skepticism about streaming.

Todd Spangler NY Digital Editor Is there a bidding war brewing over Hulu? Comcast chairman and CEO Brian Roberts called Hulu a “phenomenal business” — and said that if Disney were willing to sell it, the cable and media company would be interested in buying it out. “Hulu’s a phenomenal business. Its scale is fantastic. It has wonderful content,” Roberts said, speaking Wednesday at Goldman Sachs’ Communacopia + Technology Conference 2022 in San Francisco. “If it was up for sale, Comcast would be interested” in buying 100% of Hulu, and “others would I think as well.” Disney currently owns 66% of Hulu and Comcast holds the remaining 33% stake. As of July 2, 2022, Disney recorded Comcast’s interest in Hulu as being worth $8.6 billion, implying a valuation of $25.8 billion. In an auction-style sale of Hulu in its entirety, Roberts suggested, Hulu may fetch more than that.

Disney CEO Bob Chapek, coming off a promotional blitz at the company’s D23 conference last weekend, reiterated many of those messages for a Wall Street audience but struck a more confident tone than ever before in outlining the future of Hulu.

Todd Spangler NY Digital Editor Disney+ was first launched three years ago with the “pretty absurd” low price point of $6.99 per month, CEO Bob Chapek admitted. Now the company is gearing up to raise prices again on the flagship streamer — but Disney+ still offers a better price/value equation than competitors, he said. “I think we’re way underpriced relative to the value we provide,” Chapek said, noting that the core Disney+ service without ads will continue to be priced below several competitors. The CEO was speaking Wednesday at Goldman Sachs’ Communacopia + Technology Conference 2022. Amid rising inflation, Disney has announced price increases coming in the fourth quarter of 2022 for Disney+ and Hulu, as well as a December launch for the ad-supported Disney+ tier in the U.S. Disney+ Basic, the name of the plan with ads, will launch Dec. 8 in the U.S. for $7.99/month. That’s the price of the current ad-free version of Disney+, which at that time will bump up to $10.99/month, a 38% increase, and will be known as Disney+ Premium.