-
Welcome to the WDWMAGIC.COM Forums!
Please take a look around, and feel free to sign up and join the community.
News Christine McCarthy to step down from her role as Chief Financial Officer
- Thread starter DCBaker
- Start date
Well... Peltz can't do a darned thing once on the board (if that ever happens) unless he has a majority lock. If it's just him and his son, the other BoD members will just keep outvoting him.
Peltz needs to put up a whole new slate of directors (or, at least, a majority) to be voted in and also have power. And even then, his cronies may not vote with him once they see all the internal data that caused the previous year's raider to back off (and Peltz himself to back off).
If Peltz is on the board without a majority voting block, his only recourse is to be a gadfly. Mostly by leaking biased cherry-picked data in the name of transparency.
Yeah...Peltz as a board member would have access to every confidential document and metric. I suspect THAT is something that scares the board. Having a deep core insider that is NOT a team player...would be scarry "if"...yes, I said "if".... you were hiding secrets.
Board chair Susan Arnold called Iger on a Friday to come back. Iger said yes. Saturday is when Chapek was fired and his friend Kareem Daniel was fired on Monday.
It's not just secret nefarious info, but regular corporate inside information: Do they plan to give CMs a raise? Are there any real plans to divest themselves of any of their assets? Are they really concerned about Epic Universe or not?
All the questions on the quarterly calls that Iger responds with, "We're not going to talk about that at this time." Peltz can then publicly post the real answers.
70 Billion for Fox? The only people happy about that are Rupert Murdoch and Comcast. Comcast saw that Iger was obsessed with buying Fox.. no matter what...and took advantage of Iger. Comcast jumped into the bid and forced it UP and additional 20 BILLION dollars...then jumped off it the deal LAUGHING at Iger!
Comcast used Iger's EGO against him and made Disney pay 70 billion instead of the original 50 billion. Comcast....great way to inflict a 20 billion dollar "damage" on your competitor.
What did Iger get for that 70 billion? Most say very little for that high cost....but LOTS of debt.
What did Iger get? A great, complementary asset that fits Disney perfectly; great franchises to work with, a chance to do right by the fans of Alien, and making more money off it all than Murdoch ever did, as this was someone who could not make profit off his holdings but just shoveled money to keep it all going out of ego and spite.
Iger made a great deal. Murdoch could've told Comcast to stuff it.
Indy_UK
Well-Known Member
No, I completely agree with you in regards to Fox.
Pixar, Marvel and Star Wars are much more palatable purchases that have easily made their money back.
I don't get what Iger thought Fox was going to bring? A back catalog of more adult content to bolster streaming? Thank God he was able to claw some back from selling Sky.
Overall the Fox purchase was pretty worthless now consider things like Nat Geo are already being considered for getting sold on.
Indy_UK
Well-Known Member
That is the story of what happened yes.... but Iger was waiting by the phone for it to happen.
Are you saying you WANTED Chapek to stay?
Indy_UK
Well-Known Member
Not for a second but Igers arrogance and Ego has caused all the mess that's happening now. Chapek just implemented all the cuts that Iger didn't have the balls to do
Oh... Iger WAS there for everything Chapek did. He was just "using" Chapek to be the temporary "bad guy" during the pandemic. Iger never left, he was ALWAYS there behind the curtain with his board 100% behind him using Chapek to take the fall. Chapek was a simple pawn for Iger and someone that he suspected would NEVER be a threat to him.
Chapek was the ONE guy that Iger didn't need to fear. He was prefectly and easily disposable when the time was ready for Iger's return. (to the building and the exact "shower" office...that Iger literally NEVER moved out of)
It's funny,...the week Iger returned he told us that he need to get up to speed again on what was going on when he was gone!...HAHA...B.S.!...Iger was 100% aware of and "THERE" for everything Chepek was doing! All of it and more. Iger was given MORE info than Chapek was!
Someday,...somebody is going to make a movie out of this childish Disney Executive, CEO and Board drama. They acted like CHILDREN!
pdude81
Well-Known Member
There is a lot of Fox content that can go on Hulu, or be licensed to Max or Netflix for short term deals. Plus they own the distribution for Avatar and Star Wars moving forward. I rather like the deal, though it'd be better if they didn't pay so much (for Fox) and ultimately spun off Sky anyway.
Everyone has a shelf life. The problem is it is a very rare person who sees it in themselves. Iger shelf life has expired and he does not see it. For his own good, those closest to him need to get him to step aside. Ok, a mistake was made in Chapek, it does not mean you stop trying to fill the position. Like an NFL team that misses on that first round Quarterback, you need to admit your mistake and try again. If it takes missing a second or third time, you do not stop until you find your guy.
Last edited by a moderator:
If you play musical chairs with the leadership position, it only causes chaos and makes people think "Disney can't get its act together." The company's best hope is to stick it out with Iger until 2026. But that time, his moves will have borne fruit and we'll have a viable successor. The time to switch out is then. Not now.
Last edited by a moderator:
Was it worth 70 billion? In theory is was even more. Disney needs to service the debt it caused. How mush is interest on 70 billion? Regardless, may in the industry say it's only with 1/3 what Iger paid for it.
Too late now! The PARKS profits will sucked out to pay for that Fox deal over the next decade. Thank you Bob Iger!
Last edited:
Before you clear out the swamp you need execs to step right in to take charge. Don't see that happening .
pdude81
Well-Known Member
Between the Sky sale to Fox and the sports networks they had to get rid of, reportedly Disney got about $30 billion. So let's say it's more like $41 billion total for what they ended up with. Plus it seems like they are in talks to potentially unload Hotstar. So it would be better if they got all of it for the original deal price, but not terrible for all that content and licensing potential. New X-Men and Fantastic Four movies are suddenly possible in the MCU, and Avatar 2 made something like $2 billion globally. FX and NatGeo content also help fill out Hulu, of which 30% was also part of the deal.
Honestly I think majority control of Hulu was a big part of this fight and why they were willing to pay more. Plus there might have been some other divestitures I don't remember. That's why I don't think it's a terrible deal. Could have been better, but it's not like they just burned a pile of cash.
There's nothing "secretive" about Iger's plan; especially not compared to Zaslav's. Not having every single detail out in the open is automatically "keeping things secret." You can't keep things secret if there isn't a thing; you can't talk about ideas off the cuff without having things thought through. Shotgunning is not better than taking months to think things through.
Apple was lucky in the period of going through John Sculley, then Michael Spindler, then Gil Amelio and then back to Steve Jobs. But they could've easily gotten yet another mediocrity to replace Amelio, who would've killed Apple outright. We've already got "Jobs" back in place, and we don't have a Tim Cook that's ready for primetime. Disney needs Iger right now.
Iger just stated in an intervew that he is exhausted and tired. He has reported to have told employees that he is wondering why he came back.
Of course, we all know he never left..hehe.
Well?...if we are lucky, maybe Iger will be so tired that he will resign...and take some Board members with him.
Its wishfull thinking though...Iger would rather die then give up his power and his seat. He's a "lifer" and the only way he REALLY leaves is with a mandatory security escort to the door.
Of course, we all know he never left..hehe.
Well?...if we are lucky, maybe Iger will be so tired that he will resign...and take some Board members with him.
Its wishfull thinking though...Iger would rather die then give up his power and his seat. He's a "lifer" and the only way he REALLY leaves is with a mandatory security escort to the door.