There are a lot of updates regarding The Walt Disney Company’s third-quarter earnings call today. Disney CEO Bob Iger and CFO Kevin Lansbury gave a firsthand update on the financial well-being regarding the many facets of the large conglomerate company, which many feel is in danger due to division related to social hot-button issues and perception of Park attendance. Amongst these rumors have been murmurs of the potential selling of Disney. These rumors aren’t new, but given the current state of the business, finding itself now at the center of politically charged lawsuits, losing hundreds of millions of dollars on failed Resort ideas like the Galactic Starcruiser, and in possession of a struggling streaming service which will soon cost its subscribers even more, it’s challenging to know what the future of The Walt Disney Company looks like.
Bob Iger Refuses to Discuss Selling Disney
During the earnings call, Iger was faced directly with a question regarding the future of Disney and its potential acquisition by a more prominent, more profitable suitor. Iger abruptly and boisterously announced that he was unwilling to speculate about the company’s future acquisition. Instead of putting the rumors to rest, the head honcho of The Walt Disney Company instead refused to answer the straightforward question of whether Disney was being sold.
Upon his response to the question, the earnings report call was quickly ended, leaving many who were listening in a bit confused, including myself. It seems like selling Disney isn’t a realistic option; Bob Iger would have said as much. Instead, he chose to dodge the question altogether, refusing to “speculate.” Understanding that although financial earnings show that Disney is in no way a failing company, there have been some major financial decisions that have hindered the company in the last year. The Galactic Starcruiser’s failure is a great example. Leading to a “$100 million rapid depreciation” upon its closing; in some ways, Disney is still bleeding, and the future of selling the company remains highly in question.
Iger went on say add that the idea is “not something we obsess about,” when referring to the sell of Disney to a tech company. As most already know, rumors have abounded for years about the possible acquisition of Disney by Apple. Although Iger did not verify the talk, he didn’t do much to muzzle the speculation by not openly condemning it.