{"id":552216,"date":"2023-02-15T17:55:00","date_gmt":"2023-02-15T14:55:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/disneys-new-balance-of-power-raises-succession-spinoff-questions\/"},"modified":"2023-02-15T17:55:00","modified_gmt":"2023-02-15T14:55:00","slug":"disneys-new-balance-of-power-raises-succession-spinoff-questions","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/disneys-new-balance-of-power-raises-succession-spinoff-questions\/","title":{"rendered":"#Disney\u2019s New Balance of Power Raises Succession, Spinoff Questions"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a22fad4c12b5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a22fad4c12b5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/disneys-new-balance-of-power-raises-succession-spinoff-questions\/#Disneys_New_Balance_of_Power_Raises_Succession_Spinoff_Questions\" >Disney\u2019s New Balance of Power Raises Succession, Spinoff Questions<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Disneys_New_Balance_of_Power_Raises_Succession_Spinoff_Questions\"><\/span>Disney\u2019s New Balance of Power Raises Succession, Spinoff Questions<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    In his first earnings report back as Disney CEO, Bob Iger<strong> <\/strong>unveiled a structure that places power back in the hands of the creatives but also raises questions about succession and the fate of two key company assets. Under Iger\u2019s Feb. 8 plan, the empire is divided up three ways: Disney Entertainment, including the company\u2019s streaming business, and all its non-ESPN <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> and content offerings under the leadership of Alan Bergman and Dana Walden; ESPN, led by Jimmy Pitaro; and Disney Parks, Experiences and Products, with Josh D\u2019Amaro still in charge. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    All of this, as well as a plan to cut costs to the tune of $5.5\u202fbillion, is in pursuit of achieving streaming profitability by fiscal year 2024, Iger emphasized.\u00a0\u201cThere\u2019s a lot to accomplish. But let me be clear, this is my number one priority,\u201d he told investors on the Feb. 8 earnings call. \u201cWe are focused on the success of our streaming business and the return it generates for our shareholders long into the future.\u201d \u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Of course, in segmenting out the company in this way, the new plan can\u2019t help but point to possibilities for succession, one of Iger\u2019s other main tasks as returning CEO. His current contract ends Dec.\u202f31, 2024, assuming he doesn\u2019t extend it \u2026 <em>again<\/em>. It also thrusts ESPN and Hulu back into the spotlight, as speculation rises about the possibility of selling off the brands.\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    On the succession front, the latest restructuring bodes well for Walden, who is among the internal favorites to take over from Iger. The two are already tight and remained so during Iger\u2019s time away; in fact, the pair regularly took walks together near their Westside L.A. homes. Now back at the helm, his latest move gives Walden an even bigger footprint, with control of Disney\u2019s global steaming operation (alongside Bergman) in addition to its linear plays, save for ESPN.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Included in that is considerably more executive function, giving her both operational and financial control, which she didn\u2019t previously have in<strong> <\/strong>Bob Chapek\u2019s now-dismantled Disney Media and Entertainment Distribution structure. This could help dull one of the knocks against Walden in the succession race, which has been that she lacks the business-side experience to be the CEO of a major public company.\u00a0Rightly or wrongly, Walden has historically been perceived as a creative maestro who was then paired with a business executive; for many years, that suit was Gary Newman.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The other knock has been that Walden doesn\u2019t have real film experience, having come up through the television side (notably, as Iger did). And while the new structure keeps Bergman firmly in control of Disney\u2019s film business, Walden should at least have visibility into the operation by virtue of their co-chair titles (ditto for Bergman into TV). To be sure, filmmakers should not expect her to be weighing in on such things as what movies are made, just as Bergman won\u2019t be telling Walden what <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">TV series<\/a> to order, but they will both be keyed in on all top decisions given that the film and TV operations now operate as one.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    For Bergman, another possible successor, the restructuring is widely seen as a major vote of confidence by Iger. Unlike Walden, Bergman has kept a lower profile during his nearly 30-year Disney tenure. He\u2019s long been seen as the suit internally, though some inside suggest that sells the studio chief short. \u201cHe\u2019s been a silent killer his entire career,\u201d says a source who\u2019s had numerous dealings with Bergman. Now, he comes to the new setup from a source of power: As chair of Disney Studios Content, which includes Marvel Studios (where Kevin Feige is an ally), Bergman heads the multiple movie divisions that fuel Disney\u2019s content engine. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    To that end, the marriage of Walden and Bergman seems logical and even formidable \u2014 in fact, as industry sources have noted in recent days, it could have legs beyond the current structure, maybe even as co-CEOs one day.\u00a0\u201cThis definitely solidifies their power,\u201d says a rival executive. Nearer term, however, the two are seen as key to accomplishing Disney\u2019s streaming profitability target. \u201cI think having executives who are more than capable, they\u2019re extremely successful, decide what content to make and where to put it and how to monetize it probably will not only be smoother, but hopefully drive profitability,\u201d Bank of America analyst Jessica Reif Ehrlich says.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The restructuring also gives Iger alternatives and flexibility in achieving that profitability goal. One possibility, which <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be increasingly in play, is the sale of Hulu. Disney retains a 66\u202fpercent stake in the streamer, while Comcast owns the rest. Starting in January 2024, Comcast can use its put option to require Disney to buy its stake, or Disney can use its buy option to tell Comcast to sell its stake. Chapek had expressed an interest in buying out Comcast during his tenure (and Comcast had also expressed an interest in ownership), but now Iger appears less sure, going on CNBC on Feb. 9 to say that \u201ceverything is on the table right\u201d in terms of Hulu\u2019s fate.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    In fact, Disney is said to have hired Goldman Sachs to explore different paths, even as some analysts are skeptical of Iger\u2019s maneuvering. \u201cWhile Iger has expressed in recent interviews that Hulu is less of a priority, we think this is posturing,\u201d J.P. Morgan analysts wrote in a Feb.\u202f10 note, mentioning that it\u2019s more likely that Disney buys Comcast\u2019s stake for around $9\u202fbillion.\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Nevertheless, selling Hulu, rather than having to write a multibillion-dollar check, could bring an influx of cash as Disney tries to stem its streaming losses and clarify its streaming strategy. As analyst Rich Greenfield\u2019s Lightshed Partners noted Feb. 7, even though there has been some notable programming on Hulu, including <em>The\u202fBear<\/em> and <em>Fleishman Is in Trouble<\/em>, these shows still have not charted within Nielsen\u2019s most-watched streaming shows. \u201cIt is hard to see why Hulu is a must-have asset regardless of whether or not Disney chooses to continue investing in adult-focused programming for Disney+ or pivot solely to kids\/family programming,\u201d the analysts wrote.\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    It\u2019s also hard to see who else is in the market to buy Hulu, given the high price tag. And, depending on the buyer, it\u2019s unclear what content would remain on the platform. Hulu\u2019s current programming is made up of licensed Disney content, which includes FX as well as programming from Fox, which renewed its deal in January. (Comcast\u2019s NBCUniversal recently took its content off the platform.) In the interim, producers and reps say Hulu\u2019s hot-potato status won\u2019t impact sellers from taking pitches there. After all, as one former network exec notes, \u201cEvery buyer is a hot potato.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Siphoning off ESPN into its own sector also gave rise to questions about selling that segment, even if live sports still reliably draws an audience (and advertisers), with the profits ultimately going to support Disney\u2019s streaming efforts. And, as Iger acknowledged, the goal is to transition more of ESPN to streaming eventually, where its live sports content will likely be a draw for streaming subscribers.\u00a0Additionally, as Ehrlich notes, selling ESPN at this time, given the pressure on the linear business, could mean that Disney would have to sell at a much lower price than what the cable network may even be worth.\u00a0The Bank of America analyst adds, \u201cIt just, financially, doesn\u2019t really make sense.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>A version of this story first appeared in the Feb. 15 issue of The Hollywood Reporter magazine.\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/subscribe.hollywoodreporter.com\/sub\/?p=THR&amp;f=saleb_2&amp;s=IH2205THRS\">Click here to subscribe<\/a><\/em>.\u00a0<\/p>\n<\/p><\/div>\n<p><script type=\"text\/plain\" class=\"optanon-category-C0004\">\n!function(f, b, e, v, n, t, s) {\nif (f.fbq) return;\nn = f.fbq = function() {n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);};\nif (!f._fbq) f._fbq = n;\nn.push = n;\nn.loaded = !0;\nn.version = '2.0';\nn.queue = [];\nt = b.createElement(e);\nt.async = !0;\nt.src = v;\ns = b.getElementsByTagName(e)[0];\ns.parentNode.insertBefore(t, s);\n}(window, document, 'script', 'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\nfbq('init', '352999048212581');\nfbq('track', 'PageView');\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more Like this articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/social-media\/\" target=\"_blank\" rel=\"noopener\">Social Media category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.hollywoodreporter.com\/business\/business-news\/disney-bob-iger-dana-walden-alan-bergman-hulu-espn-1235325908\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Disney\u2019s New Balance of Power Raises Succession, Spinoff Questions In his first earnings report back as Disney CEO, Bob Iger unveiled a structure that places power back in the hands of the creatives but also raises questions about succession and the fate of two key company assets. Under Iger\u2019s Feb. 8 plan, the empire is&#8230;<\/p>\n","protected":false},"author":1,"featured_media":552217,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.hollywoodreporter.com\/wp-content\/uploads\/2023\/02\/THR-IgerMirror.jpg?w=1024","fifu_image_alt":"","footnotes":""},"categories":[17],"tags":[135885,44087],"class_list":["post-552216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-mediaa","tag-business-features","tag-walt-disney"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/552216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=552216"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/552216\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/552217"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=552216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=552216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=552216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}