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Bob Chapek

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business1 year ago

"Ousted Disney CEO Bob Chapek's Insights on ESPN's Future and Pay TV Trends"

Former Disney CEO Bob Chapek criticized current CEO Bob Iger's plan to find a strategic partner for ESPN, stating that he sees no benefit in adding another minority partner to the Disney-owned sports channel. Chapek believes Disney is planning to sell all or part of ESPN and that Iger's move to split it from other entertainment is the first step. He also expressed his vision for ESPN to become a central hub for sporting events, similar to Apple TV's movie and show hub, in order to improve the consumer experience.

via New York Post |
#bob-chapek#bob-iger#business
business1 year ago

"Bob Chapek's Vision for ESPN's Survival Amid Cable TV Decline"

In his first interview since being fired from Disney, former CEO Bob Chapek discussed the future of ESPN, expressing belief in its potential as a streaming juggernaut. He explained that the decision not to sell ESPN during his tenure was influenced by Disney's debt and the impact of the COVID-19 pandemic. Chapek suggested that Disney's recent restructuring, which separated ESPN into its own segment, may indicate plans to sell part or all of the network. He also emphasized the need for ESPN to become a central hub for sporting events and improve the consumer experience in the streaming world.

via WDW News Today|
#bob-chapek#business#disney
business1 year ago

"Former Disney CEO Bob Chapek Addresses ESPN Divestment in First Public Comments"

Former Disney CEO Bob Chapek broke his silence in a CNBC documentary, stating that he sees no strategic need for Disney-owned ESPN to add minority partners, despite previous discussions about selling a stake in the sports network. Chapek also discussed his vision of turning ESPN into a centralized hub for directing consumers to where games are streaming, aiming to make the network indispensable to sports viewers in the evolving streaming world. This marks Chapek's first public comments since his firing in 2022, and he also acknowledged the possibility of bringing in a partner to raise cash for Disney's commitment to buy Comcast's stake in Hulu.

via CNBC|
#bob-chapek#business#disney
business2 years ago

Disney Stock Hits 10-Year Low

Disney stock closed at its lowest price in nearly a decade, reaching $82.47 per share. The drop in stock price can be attributed to various factors, including the impact of the COVID-19 pandemic and the performance under CEO Bob Chapek. Despite some successes in reducing losses and increasing revenue in the third quarter, Disney's overall revenue slightly fell short of forecasts. The company's direct-to-consumer products, including Disney+, Hulu, and ESPN+, saw an increase in revenue but experienced a decline in Disney+ subscribers.

via WDW News Today|
#bob-chapek#business#disney
business2 years ago

Disney Stock Plummets to Record Low

The Walt Disney Company's stock hit a new 52-week low, dropping to $83.02, down over 3%. This marks a significant decline in Disney's stock over the past few years, particularly during the COVID-19 pandemic and under CEO Bob Chapek. The stock had briefly rebounded when Bob Iger returned to the position, but has since dropped again. Other entertainment and media companies are also experiencing drops in the market.

via WDW News Today|
#52-week-low#bob-chapek#business
business2 years ago

Disney and Former Executives Face Shareholder Lawsuits Over Streaming Statements and Losses

Former Disney CEO Bob Chapek and other executives are facing a lawsuit for allegedly violating securities law by providing misleading statements and omissions about Disney+ and its subscriber growth. The lawsuit alleges that Chapek and other executives did not properly disclose the truthful state of Disney, specifically its projections for Disney+ subscriber numbers and the company’s overall health in the streaming industry. The case seeks a lead plaintiff and judicial determination for a class action suit representing Disney shareholders from Dec. 10, 2020 to Nov. 8, 2022.

via Variety|
#bob-chapek#business#disney
entertainment2 years ago

Disney Executives, Including Former CEO Bob Chapek, Face Shareholder Lawsuit Over Streaming Losses and Alleged Misleading Investors.

A fistfight broke out at Magic Kingdom, new merchandise collections arrived at various Disney parks, and Disney announced new attractions and events. "Avatar: The Way of Water" will be available on Disney+ starting June 7, and a special on the making of "The Mandalorian Season 3" will also be released. Former Disney CEO Bob Chapek and other executives were named in a lawsuit accusing them of misleading investors about Disney+.

via WDW News Today|
#bob-chapek#disney#disneyland-paris
business2 years ago

Investors Sue Disney Over Alleged Misleading of Streaming Division's Costs.

Disney is facing a lawsuit from investors who claim that the company misled them about the extent of its losses in its streaming division. The suit accuses former CEO Bob Chapek of engaging in a "cost-shifting scheme" to hide Disney+ costs and make forecasts that it would be profitable by 2024 believable. The suit also takes aim at Chapek's alleged decision to first air certain shows meant to be Disney+ originals on legacy TV networks to conceal the platform's "suffering decelerating subscriber growth, losses, and cost overruns." Chapek and another executive were named in the complaint.

via Hollywood Reporter|
#bob-chapek#business#disney
business2 years ago

Disney Executives, Including Former CEO, Named in Shareholder Lawsuit Over Disney+

Former CEO Bob Chapek, current CFO Christine McCarthy, and former Entertainment Chief Kareem Daniel are named in a lawsuit accusing them of misleading investors about the success of Disney+ by concealing the true costs of the platform and inflating its growth trajectory. The lawsuit is a securities class action seeking damages and injunctive relief on securities fraud claims. The restructuring of the Walt Disney Company in October 2020 is claimed to have been designed to hide the extent of Disney+ losses and make the growth trajectory of Disney+ subscribers appear sustainable and achievable.

via WDW News Today|
#bob-chapek#business#christine-mccarthy
politics2 years ago

DeSantis Continues Battle Against Disney in Florida

Florida Governor Ron DeSantis is waging war on Disney, his state’s biggest employer, over the company's silence on the state's controversial "Don't Say Gay" law and its arrangement with the state government. DeSantis has launched a state investigation into Disney’s Reedy Creek Improvement District, which gives the company the ability to almost autonomously expand and operate the Walt Disney World resort with reduced state oversight. Disney has responded by amending its agreements to cement its power, blocking DeSantis' proposed overhauls. DeSantis has threatened to implement additional tolls on roads leading to the resort, but Disney has proved it isn't afraid to outsmart him.

via SFGATE|
#bob-chapek#disney#florida
entertainment2 years ago

Disney Abandons Metaverse Plans, Lays Off Entire Team.

Disney has shut down its nascent metaverse division, Next Generation Storytelling, as part of its recent round of layoffs. The division was a pet project of former CEO Bob Chapek, who had envisioned a Disney metaverse that would allow for storytelling without boundaries. The division's exact projects remain unclear, but the technology could still find its way into Disney's theme park or studio divisions. The layoffs are part of CEO Bob Iger's efforts to streamline the entertainment giant, with a larger round of cuts expected next month.

via Hollywood Reporter|
#bob-chapek#disney#entertainment