Academy Museum to honor Sophia Loren, Haile Gerima at gala
Director Haile Gerima appears at the 65th edition of the Venice Film Festival in Venice, Italy, on Sept. 2, 2008, left, and Sophia Loren arrives at the Governors Awards in Los Angeles on Oct. 27, 2019. Loren and independent filmmaker Haile Gerima will be honored with special awards by the Academy Museum of Motion Pictures. (Photos by Andrew Medichini/AP, left, and Jordan Strauss/Invision/AP)The Academy Museum of Motion Pictures is assembling a star-studded cast for its opening gala in September. Italian screen legend Sophia Loren and independent filmmaker Haile Gerima will be honored with special awards, and Tom Hanks, Annette Bening and Bob Iger are being saluted for their efforts to raise $388 million for the long gestating museum, the organization said Monday. Designed by architect Renzo Piano, The Academy Museum of Motion Pictures is located at the corner of Wilshire Boulevard and Fairfax Avenue in the historic Saban Building.
Amazon CEO Jeff Bezos may step down without stepping away
Amazon announced Tuesday, Feb. 2, 2021, that Jeff Bezos would step down as CEO later in the year, leaving a role he's had since founding the company nearly 30 years ago. Amazon says Bezos will be replaced in the summer by Jassy, who runs Amazon's cloud business. (Isaac Brekken/AP Images for NFL, File)Even after stepping aside as CEO, Amazon founder Jeff Bezos will likely keep identifying new frontiers for the world's dominant e-commerce company. Tuesday's announcement that Bezos will hand off the CEO job this summer came as a surprise. “Being the CEO of Amazon is a deep responsibility, and it’s consuming," Bezos wrote.
Kingdom of Wakanda destined for Disney + streaming service
Disney on Monday, Feb. 1, 2021, announced a five-year exclusive TV deal with Cooglers Proximity Media company that includes development of a series based in the Kingdom of Wakanda from Cooglers Black Panther blockbuster. (Photo by Phil McCarten/Invision/AP, File)LOS ANGELES – The Kingdom of Wakanda is staking out turf on the Disney + streaming service. A TV series set in the “Black Panther” kingdom will be developed as part of a five-year, exclusive television deal the Walt Disney Co. announced Monday with filmmaker Ryan Coogler’s Proximity Media company. Coogler wrote and directed 2018’s “Black Panther,” a box-office hit that turned Chadwick Boseman into a superstar. The Black Panther character was created by Stan Lee and Jack Kirby for Marvel Comics, which became part of Disney in 2009 when the media giant acquired Marvel Entertainment.
The pandemic is changing Hollywood, maybe forever
This combination photo shows Gal Gadot in a scene from the Warner Bros. Pictures film "Wonder Woman 1984," left, and Yifei Liu in a scene from Disney's "Mulan." A century later, during another pandemic, movies — quotes no longer necessary — are again facing a critical juncture. By streaming service, video-on-demand, virtual theater or actual theater, a steady diet of films have been released under COVID-19 every week. Yet until recently — with only a few exceptions — those haven’t been the big-budget spectacles Hollywood runs on. “Wonder Woman 1984” and “Soul” are essentially very expensive advertisements for those streaming services.
Film Academy Museum completes pre-fundraising goal
After 8 years and 13,000 donors including the likes of Barbra Streisand and Steven Spielberg, the Academy Museum of Motion Pictures has reached and exceeded its pre-fundraising goal. Academy Museum director and president Bill Kramer said Friday, Nov. 13, 2020, that the new museum has raised $388 million. (Photo by Willy Sanjuan/Invision/AP, File)It took eight years and 13,000 donors including the likes of Barbra Streisand and Steven Spielberg, but the Academy Museum of Motion Pictures has reached and exceeded its pre-fundraising goal. Academy Museum director and president Bill Kramer said Friday that the new museum has raised $388 million. Located in Los Angeles at the corner of Wilshire Boulevard and Fairfax Avenue, the Academy Museum is set to open on April 30, five days after the 93rd Academy Awards.
California wavers on theme park opening rules amid pressure
But following industry criticism of the proposed rules, state health officials said no announcement was coming Friday as negotiations continue. Amusement park leaders saw a draft of the new rules Thursday and urged state officials to change them, said Erin Guerrero, executive director of the California Attractions and Parks Association. A Disney official said there have been no major reported outbreaks in Florida associated with the company’s theme parks and declined to say whether any cases have occurred there. Ian Henderson, a spokesman for Steel’s office, said county health officials have worked closely with Disney to prepare for the reopening of its parks. ___Taxin reported from Orange County, California.
Chadwick Boseman, who embodied Black icons, dies of cancer
FILE - In this March 4, 2018 file photo, Chadwick Boseman arrives at the Oscars at the Dolby Theatre in Los Angeles. Actor Chadwick Boseman, who played Black icons Jackie Robinson and James Brown before finding fame as the regal Black Panther in the Marvel cinematic universe, has died of cancer. When the former playwright suited up as Black Panther, he brought cool intellectual gravitas to the Marvel superhero whose Wakanda forever! salute reverberated worldwide. You dont have the same exact experience as a Black actor as you do as a white actor. Before an auditorium full of actors, Chadwick Boseman stepped to the microphone.
CEO pay has topped $12.3M. Can it keep rising post-pandemic?
The 4.1% rise in median pay was a slowdown for S&P 500 CEOs, who had seen their pay jump 7.2% the year before and by even more in earlier years. SAY ON PAYThe slowdown in CEO pay across the S&P 500 is partly due to the increased voice investors have gotten on the subject, shareholder advocates say. The S&P 500 lost as much as a third of its value earlier this year, when worries about the recession were at their peak. Corporate profits, another key measure for CEO pay, are also expected to crater. Across the S&P 500, earnings per share will likely sink 33% this year, strategists at Goldman Sachs say.
AMDS Su, Discoverys Zaslav among highest paid CEOs
Change from last year: 338%Her pay vs typical company worker: 604 times, up from 165Overall ranking: No. Virginia M. RomettyIBM$19.1 millionChange from last year: 9%Her pay vs typical company worker: 354 times, up from 319Overall ranking: 57___5. David ZaslavDiscovery$45.8 millionChange from last year: -65%His pay vs typical company worker: 578 times, down from 1,511Overall ranking: No. Shantanu NarayenAdobe Inc.$39.1 millionChange from last year: 38%His pay vs typical company worker: 266 times, up from 200Overall ranking: No. Larry J. MerloCVS Health$36.5 millionChange from last year: 66%His pay vs typical company worker: 790 times, up from 618Overall ranking: No.
Video app TikTok names top Disney streaming exec as new CEO
TikTok's app features short videos, many with music and dancing, that has become a favorite of younger people and is known for its goofy, light-hearted feel. (AP Photo/Damian Dovarganes, file)TikTok, the popular short-video app that has also drawn national-security and privacy concerns, has a new high-profile CEO from Disney, Kevin Mayer. Mayer will also be chief operating officer of TikTok's Chinese parent company, ByteDance, and report to its founder and CEO, Yiming Zhang, the company announced Monday. TikTok's app features short videos, many with music and dancing, that has become a favorite of younger people and is known for its goofy, light-hearted feel. He leaves Disney a few months after the entertainment giant named a longtime executive , Bob Chapek, to replace the well-regarded CEO Bob Iger.
Disney reports 58% drop in operating income from parks and cruises, its worst-hit segment
The coronavirus pandemic has disrupted Disney's theme parks and cruise businesses but boosted engagement on its newly-launched streaming service, Disney+. However, it's difficult to compare reported earnings to analyst estimates for Disney's second quarter, as the pandemic continues to hit global economies and makes earnings impact difficult to assess. Total operating income was $2.42 billion in the quarter, down from $3.82 billion, a 37% drop. Disney estimated the impact on its operating income for that segment was about $1 billion mostly due to revenue lost because of closures. The company reported a 58% drop in operating income for the segment this quarter compared to the same period last year.cnbc.com
California governor names Steyer, Yellen and tech CEOs to business recovery task force
Billionaire philanthropist Tom Steyer, who launched an expensive unsuccessful presidential campaign, will co-chair a task force in California that will focus on getting the economy up and running again. The task force's goal is to help Californian's recover as fast as possible from the economic calamity resulting from the coronavirus. The economic task force will meet twice a month through 2020. California's economy is the fifth largest in the world and Newsom has acknowledged the stunning economic toll of the coronavirus. A record 2.7 million Californians have filed for unemployment benefits in the last month, according to the governor.cnbc.com
Disney might check visitors' temperatures when theme parks reopen, chairman says
REUTERS/Gregg NewtonLOS ANGELES (Reuters) - Walt Disney Co (DIS.N) might require theme park visitors to have their temperatures checked when they reopen after coronavirus restrictions on public gatherings are lifted, Executive Chairman Bob Iger said in an interview published on Tuesday. The company is considering the idea as one way to make the public feel safe about returning to Disneys parks once they are allowed to open again for business, Iger told Barrons. Disney operates Walt Disney World in Florida and Disneyland in California as well as theme parks in China, Hong Kong, Japan and France. Walt Disney World, the most-visited theme park in the world, attracted 58.4 million visitors in 2018, according to the Themed Entertainment Association. Iger said Disney is studying Chinas efforts to let people return to everyday activities.feeds.reuters.com
Disney shares jump as Disney+ subscriptions pass 50 million
Disney announced on Wednesday that Disney+, its new video service, now has more than 50 million subscribers. That's almost twice as many as Disney reported on February 4, when it said in its Q1 earnings that Disney+ reached 26.5 million subscribers during the quarter. Shares of Disney jumped as much as 7% on the news in after-hours trading. Netflix added 8.8 million net global subscribers during the fourth quarter of 2019, 8.33 million of whom were international subscribers. 60.4 million subscribers are in the U.S.Netflix launched its streaming service in 2007.cnbc.com
Stocks making the biggest moves in the premarket: Tesla, Amazon, Disney, Boeing, Zoom Video & more
The company warned the economic impact of the coronavirus outbreak would be material, and that it is withdrawing its 2020 guidance. Tesla (TSLA) Tesla will furlough all non-essential workers and cut salaries as the virus outbreak shuts down the automaker's production. Amazon (AMZN) Amazon is suspending its "Amazon Shipping" service in June, according to the Wall Street Journal. ISS is calling for investors to withhold votes for Chairman Stephen Bergstrom, according to The Wall Street Journal, due to the highly restrictive nature of the shareholder rights plan. Perrigo (PRGO) Perrigo said it saw a sales boost in the first quarter due to the coronavirus outbreak.cnbc.com
Disney's Iger will forgo salary as new CEO takes 50% pay cut due to coronavirus constraints
Disney Executive Chairman Bob Iger will forgo his salary and new CEO Bob Chapek will take a 50% pay cut because of the impact of the coronavirus pandemic, according to an internal email obtained by CNBC. In 2019, the former Disney CEO earned $47.5 million, down from $65.6 million in fiscal 2018. Chapek's base salary is $2.5 million, according to his employment agreement for his new role as Iger's successor as CEO. It's unclear how the closure of the two California Disney parks will impact the opening of the Avengers Campus expansion at California Adventure. One bright spot could be its new streaming service Disney+, which launched in the U.S. and a few other countries in November.cnbc.com
New Disney CEO faces his first major challenge as coronavirus shuts down Disneyland and stock drops
By the time of Iger's announcement, COVID-19 had been in the news for a couple months, but was nowhere near as widespread as health officials now report. On the day of Iger's announcement, Chapek, the new CEO addressed the potential impact of the coronavirus on Disney's business in an interview with CNBC's Julia Boorstin. "We're always very conscious of disruptive elements, socioeconomic, social elements that could come in at any time and disrupt our business," Chapek said. Before the leadership change announcement in February, Disney's stock closed at $128.19 per share. As of Thursday's close, Disney's stock is priced at $91.81 per share, a drop of about 28%.cnbc.com
Here are two ways one trader is playing the market volatility
First, Gordon's firm, Ascent Wealth Partners, eliminated its position in Disney given that coronavirus fears have raised concerns about parks, resorts and other big public entertainment spaces. Not only has Disney broken below a support level of $135, the stock has also dropped significantly below its 200-day moving average. "It has shown good relative strength prior to the volatility," he said on CNBC's "Trading Nation" on Tuesday. "Theory should have it that you'd expect the leader in the past to resume its leadership should the volatility settle out." Since the start of the year, Disney has fallen 22%, while the QQQ is back to near its levels at the start of 2020.cnbc.com
Stocks making the biggest moves in the premarket: Lowe's, JM Smucker, Wendy's, Disney & more
Wendy's (WEN) Wendy's matched Street forecasts with quarterly profit of 8 cents per share. Papa John's (PZZA) The restaurant operator reported quarterly earnings of 37 cents per share, 4 cents a share above estimates. Toll Brothers (TOL) Toll Brothers missed estimates by 4 cents a share, with quarterly earnings of 41 cents per share. The maker of teeth straightening kits had revenue come in below Wall Street forecasts, as well, and gave a weaker-than-expected full-year revenue forecast. RealReal (REAL) RealReal reported a quarterly loss of 17 cents per share, 2 cents a share smaller than Wall Street had anticipated.cnbc.com
Disney CEO Bob Iger steps down here's what to watch now
Walter Isaacson, Perella Weinberg Partners advisory partner, said Iger will act in a different capacity as executive chairman. "What's particularly interesting in this transition is Bob Iger saying he's going to spend the next year and a half or however long it is being an executive chairman focused mainly on creative. He came in not as the creative person. He came in as a business suit so to speak in the Hollywood jargon. I think Bob Iger has great taste, he has great fingertip feel for both television and stars but he's not one of these Hollywood people who is known as the creative product person so it'll be interesting to see that he decided to cast himself in that role for the next year and a half."cnbc.com
5 things to know before the stock market opens Wednesday
Dow futures swing wildly between steep losses and gains after this week's plungeU.S. stock futures, in a highly volatile overnight session, were pointing to a mixed open Wednesday. Heading into the new trading day, the Dow, S&P 500 and Nasdaq were lower for the year and were about 8% off their record highs from earlier this month. The benchmark stock measures had all gotten off to a roaring 2020 start after last year's incredible returns. Concerns about coronavirus erase $1.7 trillion from the S&P 500 in two daysCoronavirus worries wiped an estimated $1.7 trillion of market value from the S&P 500 over the past two sessions, according to S&P Dow Jones Indices' senior index analyst Howard Silverblatt. The S&P 500 lost $810 billion in market value Tuesday, coupled with its $927 billion loss Monday.cnbc.com
Buying Disney here as a long-term play 'makes sense to me,' Jim Cramer says
Disney is one example of a down stock that investors can take advantage of for a long-term play, CNBC's Jim Cramer said Wednesday. Disney shares are down almost 15% this year after falling 3.77% during the trading day to close at $123.36. The stock has potential to fall as low as $112 in the near term, but Cramer suggested it's worth picking up at a discount. The comments come one day after Bob Iger unexpectedly relinquished the chief executive seat at Disney and as coronavirus uncertainties continue to drag stocks on Wall Street down. The stock is facing some pressure from the CEO transition, which shocked investors and the business world, and coronavirus-induced volatility.cnbc.com
Bob Iger on stepping down as Disney CEO: 'I don't want to run the company anymore'
Disney's Bob Iger elaborated a bit Wednesday on his stunning decision to step down as CEO and become executive chairman effective immediately. "I don't want to run the company anymore," Iger said via phone, a day after his announcement. The long-tenured chief cited 20 years and 81 earnings calls and said he wants to concentrate on the creative pipeline of the company. Iger told me his desire to step down coalesced around Thanksgiving when he raised it with the board, which had already been targeting candidates.cnbc.com
Disney's CEO change makes sense as the company pivots to streaming, where consumers pay directly
Bob Iger's surprise announcement that he's stepping down as CEO of Disney and handing the reins over to parks chairman Bob Chapek comes during a time of massive change at the company. For much of its existence, Disney's media business thrived by selling its channels, movies and TV shows through cable networks and other distributors. Over time, that means Disney will become less reliant on the money it collects based on the dwindling pool of cable subscribers and more reliant on selling directly to consumers. Chapek is considered one of Disney's operations experts with a 27-year tenure at the company, which makes him an attractive CEO for the next chapter of Disney. It also helps that he was running Disney's parks and products businesses, which already have a direct relationship with customers.cnbc.com
Stock market updates Wednesday: Dow down 2,000 this week, Gundlach blames Sanders
The S&P 500 fell another 0.3%, after suffering its first back-to-back 3% losses since 2015. The S&P 500 also traded lower while the Nasdaq clung on to small gains. The rate was about 3 basis points higher earlier in the session. Those gains come after the S&P 500 had its worst two-day stretch in more than four years. The S&P 500 posted back-to-back losses of more than 3%, suffering its biggest two-day drop since 2015.cnbc.com
Bob Iger to step down as Disney CEO, effective immediately
Bob Iger will step down as Disney CEO and assume the role of executive chairman, Disney announced Tuesday. Bob Chapek, who most recently served as chairman of Disney parks, experiences and products, will assume the role of CEO, effective immediately, Disney announced. In an interview with CNBC's Julia Boorstin after Disney's announcement, Iger said the CEO reporting structure is a way to ensure a smooth transition. Iger will remain executive chairman of Disney through the end of 2021, according to the company. Iger said he would be able to help transition Chapek into the role while serving as executive chairman.cnbc.com
Disney's choice of parks boss as new CEO confuses the company's Wall Street narrative
Bob Chapek, chairman of Walt Disney Parks and Experiences, stands for a photograph at an unveiling event of Star Wars: Galaxy's Edge at Walt Disney Co.'s Disneyland theme park in Anaheim, California, U.S., on Wednesday, May 29, 2019. That's why Tuesday's announcement that Bob Chapek , chairman of Disney Parks, Experiences and Products , is taking over as CEO for Bob Iger is surprising and confusing. Mayer has been running Disney's streaming services as the company's chairman of direct-to-consumer and international. Disney 's Wall Street narrative the past two or three years has been very straightforward: We're leaning into streaming video. Watch: Disney CEO Bob Iger to step downcnbc.com
Disney's Bob Iger: I want to spend more time on creative
Disney's Bob Iger: I want to spend more time on creativeDisney Executive Chairman Bob Iger and Bob Chapek, who will replace him as CEO, discuss Iger's decision to focus on creative and give over the operation of the day-to-day business to Chapek. With CNBC's Julia Boorstin and Brian Sullivan, Chantico Global CEO Gina Sanchez, and the Fast Money traders, Tim Seymour, Dan Nathan and Guy Adami.cnbc.com
A look at Bob Iger's legacy at Disney as he steps down as CEO
Bob Iger is stepping down as CEO. Disney announced that Bob Chapek, the company's head of parks, experiences and products, would be his successor. He built up the company through a series of four acquisitions that seeded its parks, consumer products and theaterical releases. In the year that Iger was named CEO, Disney's net income was $2.5 billion. Shares of Disney are up more than 400% from $25 per share in 2005 to nearly $128 at the close on Tuesday.cnbc.com
Disney reports 26.5 million Disney+ subscribers
Disney said in its fiscal Q1 earnings report on Tuesday that its new streaming service, Disney+, had 26.5 million paying subscribers during the quarter. CEO Bob Iger said on the company's earnings call that, by Monday, that number had climbed to 28.6 million subscribers. The company announced in November that Disney+ had picked up 10 million subscribers within a day after it launched. The company previously forecast between 60 million and 90 million subscribers by the end of its 2024 fiscal year. Here's a breakdown of Disney's average revenue per user for Disney+ and its other streaming services:cnbc.com
Disney beats earnings expectations but does not update Disney+ guidance
In the earnings release, Disney CEO Bob Iger said the service has "exceeded even our greatest expectations." Disney+ now has 26.5 million subscribers, which is up from the 10 million sign-ups it registered for the service after it launched November 12. CEO Bob Iger said on the company's earnings call that by Monday, that number had climbed to 28.6 million subscribers. The company previously forecast between 60 million and 90 million subscribers by the end of its 2024 fiscal year. On the call, Iger said as of Monday, ESPN+ now counts 7.6 million subscribers and Hulu has 30.7 million total subscribers.cnbc.com
Disney reveals debut months for 'Falcon and the Winter Soldier,' 'WandaVision' and 'Mandalorian' season 2
On Tuesday Disney CEO Bob Iger revealed the release dates for two upcoming Marvel shows coming to Disney+ and gave fans a firmer release window for the second season of "The Mandalorian." During an earnings call, Iger said "The Falcon and the Winter Soldier" will arrive on the service in August, "WandaVision" will appear in December and "The Mandalorian" will return in October. Disney had a multipronged strategy ahead of its November launch of Disney+. Some of the films now available on Disney+ have been locked away in the Disney vault for year, unavailable to be purchased. While it released few original series during the Disney+ launch, this was the one that garnered the most attention.cnbc.com
Disney won at the box office in the last decade. Now it wants to conquer streaming
Bob Iger, CEO, The Walt Disney Company Scott Mlyn | CNBCIt's been a tough decade for big media companies as more people stream content over the internet instead of paying for cable subscriptions. And while studio entertainment represents roughly 16% of Disney's revenue, the company is leveraging its well-known franchises in other parts of the business. Disney | PixarSince Pixar's first film "Toy Story" debuted in 1995, the animation studio has garnered more than $14 billion at the global box office. DisneyOverall, since 2015, Disney has released four "Star Wars" films and garnered nearly $5 billion at the global box office. The Child, popularly known as "Baby Yoda," is a character in the new Disney+ series, "The Mandalorian" Episodic Photos, Disneycnbc.com
Everything Jim Cramer said about the stock market on 'Mad Money,' including Disney+ stats, buying Peloton, Dexcom CEO and 5G rollout
CNBC's Jim Cramer hails Bob Iger's leadership of Disney and the early subscriber results of the company's just-launched streaming platform Disney+. The "Mad Money" host sits down with Dexcom CEO Kevin Sayer to get a deeper understanding of the impact that Big Data will have on businesses. "This is Bob Iger's day. This is the day where all of us who believed in Iger's leadership and Disney's amazing brands made out like bandits," the "Mad Money" host said. "This whole integration of health care data is really going to be the next frontier," Sayer said in an interview on "Mad Money."cnbc.com
Disney shares have more upside, 'even after today's phenomenal run,' Jim Cramer says
CNBC's Jim Cramer on Wednesday crowned Bob Iger for his stewardship of the Walt Disney Company. "This is Bob Iger's day. The comments come after the entertainment conglomerate revealed that the new Disney+ streaming service registered 10 million subscribers within the first day of its initially faulty launch. Disney expects to have between 60 million and 90 million subscribers by 2024 in the company's quest to challenge Netflix for king of stream in the video category. "If you believed in Disney, you have been amply rewarded, and, you know what, I bet it's got more upside, even after today's phenomenal run," the host said.cnbc.com
Disney heiress on 'OK boomer': Let the kids drive
(CNN) - Abigail Disney has a message for fellow Baby Boomers offended by the "OK boomer" trend: "How about you guys sit the [expletive] down and let the kids drive." In a blunt Twitter thread, the 59-year-old Disney heiress criticized members of her generation for opposing young people's "understandable resentment" toward them and asked, "When did you get so easily triggered?" "Get over the idea that all things pass, you are old and you need to let history do what history does: move on." "OK boomer," the quip popularized by teens on TikTok, has unleashed generational warfare between members of Gen Z and Baby Boomers. Though she's private about her inheritance, Disney said she's given away more than $70 million of her fortune since turning 21.
Disney CEO Bob Iger ready for risky Disney+ launch on Nov. 12
Disney+, Disney's much-anticipated streaming service, released an enormous lineup of "basically everything" that the service will offer once it launches in November. But all of that may not mean as much if Disney+, the company's upcoming streaming service, isn't a hit. For Iger, Disney+ will likely be the capstone on an illustrious career. In fact, Iger believes the 2017 announcement of Disney+ "marked the beginning of the reinvention of the Walt Disney Company." Or is it too little, too late for Disney and arguably the rest of legacy media to catch up?
Disney's ESPN is caught in strategic limbo as the company moves slowly toward streaming
At the same time, Disney is betting its future on Disney+, its $6.99-a-month family-oriented streaming service, which goes live on Nov. 12. Disney has a separate sports streaming product, the nascent $4.99-per-month ESPN+, which has some live sports, including UFC, but airs zero NBA or NFL games. But it's an non-factor for Disney+, the product by which investors will judge Bob Iger's company going forward. And that means fewer ESPN subscribers. One plan to boost ESPN+ while keeping ESPN steady may involve the NFL Sunday Ticket, which shows every out-of-market NFL game each Sunday.cnbc.com
Disney CEO Bob Iger says FX shows will have 'huge presence' on Hulu, will produce new content
Disney has finally revealed its plans for the former Fox network FX. "We're going to create a huge FX presence on Hulu," Bob Iger, CEO of Disney, told Julia Boorstin on CNBC's "Closing Bell" Thursday. Debuting next March will be "Devs," a limited series tech-thriller about a young software engineer who suspects her boyfriend's suicide was foul play. Also arriving in the spring is "Mrs. America," a limited series from Academy Award-nominated producer Stacey Sher ("Pulp Fiction") and Emmy Award-winning writer Dahvi Waller ("Mad Men"). Another limited series, this one from writer-director Hannah Fidell ("The Long Dumb Road"), is based on Fidell's film of the same name.cnbc.com
5 things to know before the stock market opens Thursday
Wall Street to see more records at openTraders work on the floor at the New York Stock Exchange, November 4, 2019. Disney could take earnings knock on streaming costsBob Iger, CEO, The Walt Disney Company Scott Mlyn | CNBCDow component Disney reports fiscal fourth-quarter earnings after the bell on Thursday. Credit Suisse analyst Douglas Mitchelson said investors will be hoping for some "pre-sale color for the less-than-one-week-out Disney+ launch." Gates said he has paid over $10 billion in taxes, more than anyone else, and would be happy to pay $20 billion. Al Drago | Bloomberg | Getty ImagesThe Democratic-controlled House is set to hold its first public hearings in the Trump impeachment inquiry next week.cnbc.com
Disney says visits to US theme parks are being deferred until Galaxy's Edge is complete
"We believe there were some delayed visitation to Galaxy's Edge both at Disney and at Disney World," CEO Bob Iger said during an earnings call Thursday. "...So we sense that there are people that are just waiting for the whole thing to be opened. Higher ticket prices didn't deter tourists from taking trips to Disney theme parks during its fourth quarter, but some are still holding off on their visits until Star Wars: Galaxy's second ride is operational. Still, expenses at Galaxy's Edge weighed on Disneyland and Walt Disney World during the quarter. So far, the Millennium Falcon ride has carried over 5 million people since opening in each of the park locations, Iger said.cnbc.com
AT&T, Disney and Comcast have very different plans for the streaming wars -- here's what they're doing and why
But examining the streaming products of AT&T's WarnerMedia, Disney and Comcast's NBCUniversal in isolation, a different concept reveals itself. As much as the old media giants might envy Wall Street's years-long love affair with Netflix, the cable bundle still rules. The three most significant new streaming services from legacy media companies are WarnerMedia's HBO Max, Disney+ and Comcast's Peacock. The question is how many of today's 89 million cable subscribers would actually pay to subscribe to ESPN streaming? Moreover, cable providers know that ESPN's exclusivity in the cable bundle helps keep a pay-TV bundle alive.cnbc.com
Disney is 'not fixated' on lower price of Apple's streaming service, CEO Bob Iger says
Disney is not too concerned about the price of streaming services from Apple and other competitors, CEO Bob Iger told CNBC on Tuesday. "We're not really worried about competition in terms of pricing because we have such a unique product," Iger said on "The Exchange." "We're very, very different than any other service that is out there," Iger added, ticking off a litany of the content Disney+ will offer when it launches Nov. 12. Apple TV+, which will only have a handful of shows on its Nov. 1 launch, will cost $4.99 per month. Apple is offering a free year of Apple TV+ to customers who buy a Mac, iPhone or Apple TV.cnbc.com
When Bob Iger was a 23-year-old assistant, he got a $100 tip from Frank Sinatra
Before Bob Iger worked his way up to the CEO of Disney, he started from the bottom, making money scraping gum as a summer janitor and assembling pies at Pizza Hut. "I was called a studio supervisor, which was lower than a production assistant," the exec said on "Jimmy Kimmel Live!" While he was low on the totem pole, the gig came with its perks, like meeting legendary singer Frank Sinatra. As the studio supervisor, Iger had to be on hand to run errands for the stage crew. "I was asked at some point to get Mr. Sinatra Listerine," he recalled, adding: "It's not like there's a Listerine store in Madison Square Garden.cnbc.com
From summer janitor to CEO of Disney: What fueled Bob Iger's rise to the top
Disney announced Tuesday that Bob Iger will step down as CEO and become executive chairman through 2021, effective immediately. Iger says he watched his dad bounce from job to job due to his troubles "regulating his moods." And because of both his father's encouragement and employment troubles, Iger started working many odd jobs at the age of 13 to jump-start his career. "I started working in eighth grade, shoveling snow and babysitting and working as a stock boy in a hardware store," Iger says. Then at 15, he says he got a job as the summer janitor in his school district.cnbc.com
Tom Holland called CEO of Disney and told him to save Spider-Man
(CNN) - Tom Holland isn't just a superhero on screen. Disney CEO Bob Iger confirmed Friday in an interview with late-night host Jimmy Kimmel that Holland, who plays Spider-Man in the Marvel movies, personally called and asked him to fix the Spider-Man deal with Sony -- basically saving this iteration of the franchise. Disney, which owns Marvel, and Sony had an agreement that allowed the character to appear in the Marvel Cinematic Universe. It was clear that the fans wanted Tom back as Spider-Man, made by Marvel and our Marvel production team," he said. "We spoke, and he basically made a -- he cried on the phone," Iger said, laughing before revealing the truth.
Disney CEO Bob Iger says he left Apple's board because 'our paths were conflicting'
Disney CEO Bob Iger left Apple's board because the companies were increasingly coming into conflict as Apple created television shows and movies for its own streaming video service. Iger resigned from Apple's board of directors on Sept. 10, the day Apple announced the price and release date for its streaming service. Disney's own streaming service, Disney+, will be released on Nov. 12 for $6.99 per month. Iger said that before Jobs died in 2011, he asked Iger to take his seat on Apple's board. Iger also noted that Apple continues distribute Disney content through iTunes as well as Disney apps, and praised Apple CEO Tim Cook.cnbc.com
Disney CEO Bob Iger tells Jim Cramer why he had second thoughts on a Twitter deal 'I got cold feet for the right reasons'
Disney CEO Bob Iger revealed to CNBC's Jim Cramer why the entertainment conglomerate turned down a chance to buy Twitter years ago: "It just didn't feel 'Disney' to me." In a "Mad Money" interview that aired Tuesday, Iger pulled back the curtain on his thought process when Disney considered buying the social media platform in 2016. Twitter the social platform has a way of closing the gap that exist between brands, along with celebrities, and their target audience. Shares of Twitter fell nearly 30% to $16.30 in 2016 trading, according to FactSet. Under Iger's nearly 14-year tenure as head of Disney, the value of the mass media company has increased more than 454%, FactSet said.cnbc.com
Bob Iger steps down from Apple's board as Disney becomes a competitor
Chip Somodevilla/Getty Images(CNN) - Disney CEO Bob Iger resigned from Apple's board of directors Friday, just as the two companies are becoming streaming media competitors. It will cost $4.99 a month, $2 less than Disney's soon-to-be-released Disney+ streaming product. Apple's board was previously eyed by the Federal Trade Commission for its ties to competitors. Iger had served on Apple's board since November 2011, a month after former Apple CEO Steve Jobs died. Iger was paid $125,000 in salary and $250,000 in stock to serve on Apple's board.
Disney donating more than $1 million to Bahamas
Copyright 2019 CNN(CNN) - The Walt Disney Company is donating more than $1 million to the Bahamas in the aftermath of Hurricane Dorian. The donation has been led by the Disney Cruise line, which has several ties to the area. Disney owns a private island in the Bahamas called Castaway Cay, and according to the statement, employs native Bahamians in many of its area attractions and resorts. While parts of Florida have so far avoided the brunt of Hurricane Dorian's full force, the Bahamas has not been so lucky. Meanwhile, Walt Disney World in Orlando has remained open as more coastal and southern parts of Florida have braced for impact.
'Star Wars': Galaxy's Edge could be the most immersive land Disney has ever built
ORLANDO, Fla. - Disney CEO Bob Iger first announced at the D23 Expo on Aug. 15, 2015, that the company would build a "Star Wars"-themed land. You could be sitting on big bucks | A beginners guide to 'Star Wars': Galaxy's Edge | Sensory-friendly Disney: Park offers pass to those unable to wait in line ]"Star Wars: Galaxy's Edge" will take you to a planet far beyond our solar system. Located on the edge of the galaxy's Outer Rim Territories, you'll find the planet of Batuu. As you enter the land and make your way toward Batuu, you'll pass rebellion ships with a busy town in the distance. This land is seriously going to be in contention when it comes down to the most immersive one Disney has ever built.
Disney to remake 'Home Alone' for its streaming service
Disney CEO Bob Iger said "Home Alone" would be "reimagined" for its Disney+ service, along with "Night at the Museum," "Cheaper by the Dozen" and "Diary of a Wimpy Kid." (CNN) - Merry Christmas, ya filthy animal -- a Disney remake of "Home Alone" is on its way. In a conference call with investors, Disney CEO Bob Iger said the company would be "reimagining" the 1990s Christmas classic film for its long-awaited streaming service, Disney+, along with "Night at the Museum," "Cheaper by the Dozen" and "Diary of a Wimpy Kid." Disney has provided no details about how or when the film will be remade, or who will be cast. In April, the company unveiled its Disney+ streaming service, which will launch in North America in November.
Disney shares slump after earnings disappoint and Fox merger dings profits
Shares of Disney plunged more than 5% Wednesday, a day after its disappointing fiscal third-quarter earnings report. The company reported earnings per share of $1.35 on $20.25 billion in revenue, compared with Wall Street's expectations of $1.75 per share and $21.47 billion in revenue. On the company's earnings call, Disney warned that the Fox deal would continue to weigh on its profits in the fourth quarter. Despite the disappointing earnings report, analysts largely remained optimistic about the stock, noting that the Fox integration and increased streaming costs were temporary headwinds. Additionally, Disney+ will feature most Pixar, Star Wars, Marvel and Disney princess films when it launches, they added.cnbc.com
China sets the yuan midpoint at 6.9996 per dollar, slightly weaker than expected
China's central bank set the official midpoint reference for the yuan at 6.9996 stronger than 7 per dollar on Wednesday two days after Washington labeled Beijing a currency manipulator. The yuan has been weakening in recent months, especially as the trade war between the U.S. and China intensified. A Reuters estimate had predicted that the People's Bank of China would fix the yuan at 6.9994 against the dollar on Wednesday. China allows the yuan to trade within a narrow band of 2% from each day's midpoint. On Wednesday, the onshore yuan was trading at 7.0457 per dollar, and the offshore yuan changed hands at 7.0802 against the greenback.cnbc.com
Disney's attractive new Hulu bundle expected to boost digital ads business, and CEO says it's the most important thing he's ever done
The $12.99 per month bundle will include the ad-supported version of Hulu, which Iger said in an interview with CNBC's Julia Boorstin is "becoming a very important part of the Hulu business." On Tuesday, Disney said Hulu had reached about 28 million paid subscribers. "If this bundle serves to grow Hulu subscribers more aggressively, that would be very valuable on the advertising side," Iger said. "There's another revenue stream that will come in that I don't think has necessarily been appreciated if we grow Hulu [subscriptions] quicker, which we believe this bundle will do. If you look at it that way, the economics of the bundle are better than what you would expect."cnbc.com
Disney CEO Bob Iger says it's a coincidence the Disney+ bundle costs the same as a Netflix subscription
The price for that three-piece bundle is $12.99 per month the same price as a Netflix standard plan. According to Disney CEO Bob Iger, the fact that the two companies landed on the same price is a coincidence. "I know there's a lot that's been speculated about us going after them," Iger said in an interview with CNBC's Julia Boorstin. That's a growth opportunity for the company and growth in terms in terms of consumption." "We've always believed there's plenty of room for both of us to thrive in this marketplace," Iger continued.cnbc.com
Disney CEO Bob Iger says it's a coincidence the Disney+ bundle costs the same as a Netflix subscription
Disney is set to release its own streaming service, Disney+, on November 12, and on the same day it will also offer a deal bundling Disney+, ESPN+, and Hulu, the company announced on Tuesday. According to Disney CEO Bob Iger, the fact that the two companies landed on the same price is a coincidence. "I know there's a lot that's been speculated about us going after them," Iger said in an interview with CNBC's Julia Boorstin. That's a growth opportunity for the company and growth in terms in terms of consumption." "We've always believed there's plenty of room for both of us to thrive in this marketplace," Iger continued.cnbc.com
Disney's bundle of Disney+, ESPN+ and ad-supported Hulu will cost $12.99 per month
Disney is finally bundling its three streaming services and it's going to cost you $12.99 a month. On an earnings call Tuesday, CEO Bob Iger said that U.S. customers would be able to get Disney+, ESPN+ and ad-supported Hulu for under $15 a month. Iger said the bundle will be available when Disney+ launches on Nov. 12. "And that bundle that we're creating, that $12.99 bundle where you can buy all three, offers consumers tremendous volume, tremendous quality and tremendous variety for a good price." Also, having a sports streaming service separates Disney from competitors like Netflix and Amazon Prime, which don't have limited live sports programming.cnbc.com
Fox deal to drag on earnings, but Disney says the future payoff will be worth the pain
Disney is warning investors and analysts that the Fox deal it closed in March will continue to impact earnings. Along with its own library of content, Disney now has all of Fox's entertainment assets. Other 20th Century Fox titles on Disney+ will include "The Sound of Music," "The Princess Bride" and "Malcolm in the Middle." "And that bundle that we're creating, that $12.99 bundle where you can buy all three, offers consumers tremendous volume, tremendous quality and tremendous variety for a good price. " It blamed the earnings miss on the $71 billion deal, and the cost of integrating the Fox entertainment assets.cnbc.com
Bob Iger forever changed Disney with 4 key acquisitions
Bob Iger attends the World Premiere of Walt Disney Studios Motion Pictures 'Avengers: Endgame' at Los Angeles Convention Center on April 22, 2019. Iger has led the charge on acquiring Pixar, Marvel, Lucasfilm and, most recently, 20th Century Fox. "Disney is totally different than what it used to be 10 or 12 years ago," said Doug Stone, president of Box Office Analyst. Within two months of that call, Iger announced that Disney would acquire Pixar Animation Studios for $7.4 billion. Todd Wawrychuk | Disney ParksSince 2015, Disney has released four "Star Wars" films and garnered nearly $5 billion at the global box office.cnbc.com
Abigail Disney visits Disneyland undercover after worker complaints
Disneyland calls itself "The Happiest Place on Earth," but family heiress Abigail Disney said she found workers struggling when she recently visited the park undercover. (CNN) - Disneyland calls itself "The Happiest Place on Earth," but family heiress Abigail Disney said she found workers struggling when she recently visited the park undercover. In an interview with Yahoo this week, Abigail Disney said she decided to check out Disneyland's worker conditions after a worker sent her a Facebook message. Abigail Disney has frequently spoken out about Iger's salary. In May, Abigail Disney addressed Congress on Capitol Hill.