Walt Disney Co.

Iger’s successor as CEO, Bob Chapek, was fired Sunday after the company posted lower than expected earnings in the last quarter. Hollywood’s creative community had grumbled about Chapek’s cost-cutting measures and sometimes blunt approach to talent, while theme park regulars had been unhappy with price hikes. So, it’s back to Iger for the next two years.

Late Sunday, the Walt Disney Co. said Bob Chapek, who succeeded Iger in 2020, had stepped down from the CEO position. “The board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the company through this pivotal period,” board Chair Susan Arnold said in a statement from Disney.

Reeling from a roller coaster stock market and earnings misses, the Walt Disney Co. is about to start cutting spending, costs, and staff, CEO Bob Chapek said Friday. “I am fully aware this will be a difficult process for many of you and your teams,” Chapek wrote to Disney executives this Veterans’ Day as the House of Mouse heads into its 100th anniversary. “We are going to have to make tough and uncomfortable decisions,” he added.

CEO Bob Chapek: “Disney+ has secured more than 100 advertisers for our domestic launch window, spanning a wide range of categories.” Broadcasting grew modestly in the fourth quarter compared to the prior-year quarter as growth at the owned television stations from higher advertising and affiliate revenue was partially offset by lower results at ABC.

The media giant reported powerhouse streaming numbers in its fiscal fourth quarter, with flagship service Disney+ surging to 164.2 million global subscribers, but some key financial metrics fell short of Wall Street expectations. Total revenue of $20.15 billion in the period ending Oct. 1 increased 9% over the year-ago quarter. Earnings per share, meanwhile, tumbled 19% to 30 cents on a diluted basis. Wall Street analysts’ consensus forecast for revenue was $21.44 billion and EPS was 56 cents.

Disney no longer requires vaccinations for the casts of all of its U.S. productions, as well as those who come into contact with them on set. The majority of Disney-produced series have now lifted the mandate, including ABC’s Grey’s Anatomy and Station 19 and Fox’s 9-1-1 and 9-1-1: Lone Star. According to sources, a few U.S-based series produced/co-produced by various Disney divisions are keeping the requirement in place, including ABC’s The Rookie and The Rookie: Feds, whose lead studio is eOne.

Under the new deal that runs through the 2025 season, at least 16 races will be on ABC or ESPN and all race weekends will include live coverage of practice and qualifying.

Good news for Dish/Sling TV customers ahead of Monday Night Football. Disney and Dish have taken a major step towards a new carriage agreement after their dispute led to the Disney networks going dark on Dish and Sling TV at midnight on Sept. 30. “We have reached a handshake agreement with Dish/Sling TV, which properly reflects fair market value and terms for The Walt Disney Company’s unparalleled content,” Disney Media and Entertainment Distribution said in a statement Sunday night. “As a result, we are pleased to restore our portfolio of networks on a temporary basis while both parties work to finalize a new deal.”

The drama between Walt Disney and Comcast. Their rivalry adds intrigue to the desire of Disney boss Bob Chapek to acquire the rest of streaming service Hulu from the cable operator sooner rather than later. Comcast Chief Executive Brian Roberts is in position to let his counterpart squirm, but there’s a neat solution to help settle the score: ESPN.

Activist investor Dan Loeb signaled Sunday morning on Twitter that he is backing off his push to persuade Walt Disney Co. to spin off its popular sports television network ESPN. The change of heart comes after Disney CEO Bob Chapek said in media interviews at this weekend’s D23 Expo event — an annual gathering of Disney fans where the company announces new shows and films — that he has plans for ESPN to be a big growth engine and a large part of the company’s entertainment offerings.

The entertainment giant depends on the sports network to fund its streaming expansion, but subscriptions are in decline.

Third Point, an investment firm run by Daniel Loeb, has taken a new stake in The Walt Disney Co. and is urging the company’s CEO to make a wave of changes, including spinning off ESPN and combining Hulu and the Disney+ streaming service. In a letter to Disney CEO Bob Chapek, Loeb, whose stake in Disney is reportedly worth about $1 billion, also wants The Mouse to expand its board of directors. Spinning off sports TV giant ESPN would give the unit “greater flexibility” and enable it “to pursue business initiatives that may be more difficult as part of Disney, such as sports betting,” Loeb said.

Streamers such as Disney, Netflix and Warner Bros. Discovery focus less on adding users at any costs and more on boosting profit.

It reported Domestic Channels (broadcast and cable combined) revenues rose 2% to $5.7 billion in the last quarter. Now, said CFO Christine McCarthy, advertising demand is still strong. “Pacing in our scatter market continues to be solid across streaming, sports, as well as our broadcast network.”

Walt Disney Co. CEO Bob Chapek is expected to address investors publicly this week for the first time since the media giant’s board of directors renewed his contract through the end of 2024. The 63-year-old is expected to outline his vision for Disney and face questions during the entertainment company’s third-quarter earnings report Wednesday afternoon about how he plans to steer the company’s streaming business.

Walt Disney Co. said in a statement Wednesday morning that Hulu will now accept political issue ads, a change in the policy of the streaming platform after Democrats chided the company for rejecting spots on abortion and guns.

The Walt Disney Co. said it completed its upfront deals with the major media holding companies, registering commitments to buy a record $9 billion in advertising across entertainment, streaming sports and inclusion. Disney Advertising said the market was driven by live events, the upcoming ad-supported tier of Disney+ and addressable and measurement offerings.

Existing ESPN+ subscribers will get official notification starting July 20 with the price hike taking effect on Aug. 23.

The Walt Disney Co. and BTS’ studio home Hybe revealed a new global content partnership that will see the companies work together to produce five titles for Disney’s streaming services, including three exclusive projects featuring BTS or BTS members. Aligning itself with the world’s most popular K-pop group is undoubtedly a coup for Disney, as it seeks to both ramp up global subscriber counts and catch up with Netflix as a destination for bankable Korean entertainment.

From streaming and theme parks to sports and megadeals, the executive’s new contract gives him breathing room to put his own stamp on the company.

The NFL is finding a new home for its Sunday Ticket package, and the bidding is down to two of the world’s largest tech companies and one of the world’s largest media conglomerates. Amazon, Apple and Disney are all vying for the out-of-market set, which the NFL reportedly wants to shift at least partly to a streaming property. The league is seeking $2.5 billion to $3 billion annually for Sunday Ticket.

Disney CEO Bob Chapek has gotten a new long term contract as the the board meets this week. They voted unanimously to extend his current deal, which expires in February 2023, for three years. “Disney was dealt a tough hand by the pandemic, yet with Bob at the helm, our businesses—from parks to streaming—not only weathered the storm, but emerged in a position of strength,” said Susan Arnold, chairman of the board. “In this important time of growth and transformation, the board is committed to keeping Disney on the successful path it is on today, and Bob’s leadership is key to achieving that goal. Bob is the right leader at the right time for The Walt Disney Company, and the board has full confidence in him and his leadership team,” the board said.

He has the board’s support, but Disney CEO Bob Chapek has had a rough time with Florida Gov. Ron DeSantis, a slipping stock and concerns about Disney+. How long will he hold on?

It is a colossal job that has made the little-known Daniel, 48, one of the entertainment industry’s most powerful executives. In some ways, he is Disney’s top content traffic cop, deciding whether $33 billion in annual film and television content gets routed to streaming, traditional TV channels or theaters. Should the next Pixar movie debut exclusively in theaters? Or should it be made instantly available “for free” to Disney+ subscribers? Pixar will be asked for input, but Daniel and his team will make the final call.

The heiress’ move comes two decades after her father, Roy E. Disney, led a proxy fight that ousted then-Disney CEO Michael Eisner.

The executive is tasked with keeping the company a creative powerhouse while avoiding the leadership clashes that felled her former boss, Peter Rice.

Disney said it has signed up 10 sponsors as the Tampa Bay Lightning and the Colorado Avalanche battle for the National Hockey League’s championship. There will also be 59 other advertisers in 35 categories appearing during the telecasts.

Dana Walden is ready for this moment. On the heels of a shocking Hollywood management shake-up at Disney, the newly promoted chairman of Disney General Entertainment Content now oversees a massive portfolio that includes the programming arms of Hulu, FX, ABC, Freeform, Nat Geo, 20th Century Television, ABC Signature and more. Walden’s ascent at Disney is not a surprise, but the sudden departure of her predecessor and longtime boss, Peter Rice, surely was when the news surfaced on June 9 that Disney CEO Bob Chapek had fired him.

Disney and India’s Reliance Industries have won the broadcasting rights for the Indian Premier League for more than $6 billion, making the Twenty20 cricket competition one of the most lucrative sports leagues in the world in terms of cost per game.

Warren Littlefield is looking to make more Must-See TV with Disney’s 20th Television and ABC Signature. The network president-turned-producer, whose prolific output in recent years has included Fargo, The Handmaid’s Tale and Dopesick, has sealed a multi-year overall deal with 20th and ABC Signature that will keep him exclusive with those studios through 2026.

In an industry where many executives are quick to tout their own accomplishments, Peter Rice was known for turning down opportunities to take a public victory lap. The soft-spoken British executive, who was ousted on Wednesday from the top TV job at Disney, has a reputation for quietly cultivating relationships with producers and directors. On Thursday, he was formally replaced by his top lieutenant, Walt Disney Television entertainment chairman Dana Walden. By all accounts, Rice didn’t see it coming — at all. He was blindsided as he learned of his fate in what was described by a source as a conversation with Disney CEO Bob Chapek that lasted less than 10 minutes.

In a shocking turn of events, Peter Rice has been ousted as head of TV content for Disney, to be replaced by his top lieutenant, Dana Walden. The move enhances Walden’s stature as one of the most powerful and prominent executives in the content industry. Within Disney, it elevates Walden over her longtime peer John Landgraf, leader of FX Networks. Walden’s purview includes ABC Entertainment, ABC News, Disney Branded Television, Disney Television Studios, Freeform, FX, Hulu Originals, National Geographic Content and Onyx Collective. She will now report directly to Chapek.