DIS Shareholders and Stock Info ONLY

[Disney Bobby]

Haunted Titanic, in mean Mansion, opens at $24 million.

 

[Cfabar1]

Haunted Titanic, in mean Mansion, opens at $24 million.

For the life of me, I can't figure out why they made this movie. Everyone knew it would be a bomb....

 

[New Mouse]

For the life of me, I can't figure out why they made this movie. Everyone knew it would be a bomb....

I saw the movie on it. The budget shows a total lack of cost controls. It should have been a straight to streaming at best.

 

[clarker99]

https://twitter.com/x/status/1685864720849317888

 

[wabbott]

https://www.ft.com/content/0622fef2...traffic/partner/feed_headline/us_yahoo/auddev

Former Disney executives return as advisers to chief Bob Iger
Tom Staggs and Kevin Mayer to consult on legacy TV business
Bob IgerDisney’s board recently extended chief executive Bob Iger’s contract for another two years, raising questions about succession planning at the company

Christopher Grimes in Los Angeles
7/31/2023

Disney has hired two former executives who were seen as potential successors to Bob Iger during his first stint as the company’s chief executive, according to people familiar with the situation.

The executives, Kevin Mayer and Tom Staggs, have been brought on to advise Iger on how to deal with the company’s legacy television businesses, including the ESPN sports network. The moves were first reported by the online news site Puck.

The renewal of their Disney ties comes just weeks after the company’s board extended Iger’s contract for another two years, raising questions about the succession planning process at Disney.

Staggs and Mayer were well-liked by Wall Street while they were at Disney but left as their chances of getting the CEO job faded. They now run Candle, a media group they founded together with backing from private equity group Blackstone.

Staggs held numerous roles at Disney, including chief financial officer, chief operating officer and head of theme parks. Mayer worked closely with Iger on a series of acquisitions and was a key architect of Disney’s streaming strategy.

After the launch of Disney+, Mayer was seen as a likely successor to Iger, who then surprised many observers by choosing Bob Chapek to run the company instead.

Chapek was forced out last November after less than three years, prompting Iger’s return for what was said to be a two-year term. But this month, Disney said the board had given Iger a two-year extension and a significant bump in potential bonuses.

Iger delayed his retirement multiple times during his original 15-year tenure as chief. Under the new contract, he will step down in 2026 at the age of 75.

RecommendedThe Top LineAndrew Edgecliffe-JohnsonDisney needs to plan for a future where Bob Iger is not indispensableBob IgerIn addition to advising Iger, Mayer and Staggs will work with ESPN president Jimmy Pitaro to examine strategic options for the sports channel.

ESPN was once the profit engine of Disney, but it is declining along with the rest of US cable networks. Iger made ESPN a standalone unit as part of a restructuring and said recently that he would like to find a strategic partner for the group.

Iger has also said that finding his successor is a top priority for the company. The Disney board has appointed a four-person committee for the task, led by Mark Parker, the former Nike chief who took over as chair of the company’s board in April. Potential internal candidates for the CEO job are thought to include Dana Walden, co-chair of Disney Entertainment, film chief Alan Bergman and theme parks head Josh D’Amaro.

 

[Disney Bobby]

I guess that narrows down who the next CEO will be. Don't be surprised to see some of the others bail in the near future.
Not sure anybody could have done a worse job at succession planning.

 

[wabbott]

I don't know. Eisner killed all his likely successors, and he would have stayed had not Roy Edward and Company dynamited him loose.

https://www.sec.gov/Archives/edgar/data/1001039/000095011704000514/a36988.htm
Save Disney
February 2004

 

[Disney Bobby]

I saw the movie on it. The budget shows a total lack of cost controls. It should have been a straight to streaming at best.

Yeah, $200 million. Will have to make close to $400 million at the box office to break even. Almost managerial theft at this point to spend that kind of money at such high risk.

 

[RivShore]

I guess that narrows down who the next CEO will be. Don't be surprised to see some of the others bail in the near future.
Not sure anybody could have done a worse job at succession planning.

Has there ever been a decent Disney CEO transition/succession since Walt left us? Every one that I can think of over the last 3 or 4 decades has been a disaster in one way or another.

 

[RivShore]

Don't be surprised to see some of the others bail in the near future.

That would seem to speak to more dysfunction in the c suite - why do so many run away as soon as a new CEO is chosen? Why can't they keep solid number 2's in the fold after the transition? Do other companies see this kind of exec flight after a CEO transition?

 

[HokieRaven5]

Disney Ending Supply of Physical Media Starting with DVD & Blu-Ray in Australia

Guardians of the Galaxy Vol. 3 to be the last physical release in Australia.

*Home Entertainment sales have gone from $1.7B in FY19 to $820M in FY22 and is currently on pace for another near 50% reduction in revenue for FY23.

 

[PolymerSkywalker]

That would seem to speak to more dysfunction in the c suite - why do so many run away as soon as a new CEO is chosen? Why can't they keep solid number 2's in the fold after the transition? Do other companies see this kind of exec flight after a CEO transition?

It's pretty common when a new leader comes in for them to build their own leadership team of direct reports. You may have a few holdovers, but normally not many. Once you go down a few levels below the CEO, you won't see near as much turnover.

 

[RivShore]

Disney Ending Supply of Physical Media Starting with DVD & Blu-Ray in Australia

Guardians of the Galaxy Vol. 3 to be the last physical release in Australia.

*Home Entertainment sales have gone from $1.7B in FY19 to $820M in FY22 and is currently on pace for another near 50% reduction in revenue for FY23.

And if it follows the music industry, which from a disruption standpoint I think it has so far, we will soon see a comeback in physical video media, just like the explosion of audio vinyl sales, and now even good old cassettes.

 

[PolymerSkywalker]

I do think this will occur. Especially with newer streaming stuff changing a few scenes here and there.....I think there will be a desire for having the film in its original form. It may even drive a collector's market as well.

 

[wabbott]

Has there ever been a decent Disney CEO transition/succession since Walt left us? Every one that I can think of over the last 3 or 4 decades has been a disaster in one way or another.

When Roy O. died in 1971 (just a few weeks after WDW opened) there was a period that was relatively quiet. Donn Tatum, then E. Cardon Walker were CEOs. EPCOT began construction in the late 70s, and it went way over budget, causing turmoil.

And the company's creativity stagnated a lot, and then it was Ron Miller's "turn." He actually made, in my opinion, some progress in bringing the company into the modern era. He started the Disney Channel, "Splash" was made while he was in charge, which was a significant success. He also started the Touchstone Films brand.

But he and his cousin-in-law Roy E. hated each other's guts. And Roy had enough stock, along with the Bass brothers, to insure changes were made.

Enter Michael Eisner.

 

[wabbott]

https://finance.yahoo.com/quote/DIS?p=DIS

The Walt Disney Company (DIS)​

88.40+2.27 (+2.64%)
As of 10:34AM EDT. Market open.

 

[wabbott]

https://www.nytimes.com/2023/07/31/business/dealbook/disney-iger-mayer-staggs.html​

Disney’s Iger Hires 2 Former Heirs Apparent for Advice​

Andrew Ross Sorkin, Ravi Mattu, Sarah Kessler, Michael J. de la Merced, Lauren Hirsch, Ephrat Livni
Disney Goes Back to the Future

Robert Iger has reportedly brought in two former heirs apparent, Kevin Mayer and Thomas Staggs, for advice, renewing focus on succession at the media giant.
July 31, 2023, 8:18 a.m. EDT

Things aren’t getting easier for Disney’s Robert Iger, including yet another poor showing at the box office this weekend. So reports that the media giant’s C.E.O. has brought back two former heirs apparent, Kevin Mayer and Tom Staggs, to advise on the future of Disney’s legacy TV businesses were sure to get Hollywood talking.

It’s not clear what will come of their return to the company, where they were senior executives during Iger’s first stint as chief executive. But their mere presence underscores the amount of work that lies ahead at the House of Mouse.

Mr. Mayer and Mr. Staggs will help Iger think about “linear” TV properties like ABC, according to Puck. The legacy TV division is a business that Wall Street has been focused on since Mr. Iger effectively put a for-sale sign on it this month by saying the unit may not be “core” to the company’s future. A related issue is the fate of ESPN: Mr. Iger has said that the company was seeking a strategic partner for the sports network.

Both men had once been tipped as potential successors to Iger — Mr. Mayer as head of M.&A. and the architect of its streaming strategy; Mr. Staggs as C.F.O. — before leaving as their chances faded. (Mr. Iger chose Bob Chapek to take over, but he was ousted after two years and replaced by … Mr. Iger.) Mr. Mayer and Mr. Staggs now run Candle Media, an investment company that has bought an array of production studios.

Their new assignment renews questions about Iger’s latest plans. Though Disney recently renewed Mr. Iger’s contract until 2026, he remains under pressure to find a successor before then. Disney watchers have already identified potential candidates, including Dana Walden, the company’s co-chair of filmed entertainment, and Josh D’Amaro, its theme parks chief.

One investor focused on succession is Nelson Peltz, who cited the issue as a major concern in his board challenge just after Mr. Iger came back. Though Disney headed off Mr. Peltz’s proxy fight in February, his firm, Trian, still owns about 6.4 million shares in the company, The Times has reported.

Meanwhile, Disney’s box office flops keep piling up. “Haunted Mansion” earned just $24 million in its debut weekend. That was in part because of the actors’ strike, whose ban on promotional activity left the mansion movie unable to gain much buzz for its opening.

“Haunted Mansion” now joins “Ant-Man and the Wasp: Quantumania,” “Indiana Jones and the Dial of Destiny” and “The Little Mermaid” in a string of expensive Disney movies that failed to live up to expectations this year. (“Elemental,” the latest Pixar release, initially fared poorly but has since made up some ground.)

Expect Mr. Iger to get tough questions on these issues next week when Disney reports earnings. Shares in Disney are down about 14 percent since his return to the C.E.O. seat in November.

 

[Methos]

When Roy O. died in 1971 (just a few weeks after WDW opened) there was a period that was relatively quiet. Donn Tatum, then E. Cardon Walker were CEOs. EPCOT began construction in the late 70s, and it went way over budget, causing turmoil.

And the company's creativity stagnated a lot, and then it was Ron Miller's "turn." He actually made, in my opinion, some progress in bringing the company into the modern era. He started the Disney Channel, "Splash" was made while he was in charge, which was a significant success. He also started the Touchstone Films brand.

But he and his cousin-in-law Roy E. hated each other's guts. And Roy had enough stock, along with the Bass brothers, to insure changes were made.

Enter Michael Eisner.

Walker insulted Roy E and told him they were not going to let him have any input. That is what started the machine in motion to out Ron. Ron's tenure saw some great creativity - EPCOT, Touchstone, Tron, The Black Hole, The Rescuers, The Black Cauldron - not huge money makers, but like Walt - they kept swinging for the fence and took chances. Most of Walt's movies didn't make any money either - but when they did (Snow White, Mary Poppins), they funded his ideas.

I don't fault Eisner's era - he had creativity and didn't just buy it like Iger did. It's a shame Eisner couldn't keep himself together.

 

[RivShore]

https://finance.yahoo.com/quote/DIS?p=DIS

The Walt Disney Company (DIS)​

88.40+2.27 (+2.64%)
As of 10:34AM EDT. Market open.

That would imply the Street likes the former heir apparents getting involved, as do I.

 

[PolymerSkywalker]

People with experience in a time when Disney was winning is indeed a very good development in my opinion. Hopefully they can aid Iger in making the tough decisions to turn this thing around.