Also seen some speculation that the board are not happy with the early results of the Fox acquisition. Not sure how much that would play into todays announcement though.
We had Iger in a month or so ago for a corporate thing. He made it really clear that the board bought into the Disney+ and Fox acquisition being a long term play and there would be a dip in earnings for a few years. If anything early Disney+ results have been above target so the board should be happy the plan is a bit ahead of schedule.