Activist investment firm Trian Fund Management dismisses the relevance of the Bob Iger-Ike Perlmutter relationship to their proxy fight with Disney, stating that the focus should be on the board's failures. Trian is pushing for the election of its co-founder and ex-Disney CFO to the board, while Disney intensifies its criticism of Perlmutter and the former CFO, Jay Rasulo. JPMorgan Chase CEO Jamie Dimon has voiced support for Bob Iger, emphasizing his expertise and successful track record in the media and entertainment industry.
In 2003, at Mar-a-Lago, Donald Trump's luxury beach resort in Palm Beach, Florida, David Maisel pitched the idea of Marvel Studios to Ike Perlmutter, a major donor to Trump's presidential run. Maisel's vision was to create a real studio that could keep the money from blockbuster superhero movies instead of it going to other studios. After facing resistance from Avi Arad, the CEO of Marvel at the time, Maisel secured deals for direct-to-DVD animated features and TV projects, proving the potential profitability of Marvel characters. Despite facing challenges in securing funding, Maisel eventually convinced Merrill Lynch to invest $525 million, leading to the birth of Marvel Studios and the Marvel Cinematic Universe.
Former Disney and Marvel executive Ike Perlmutter, a longtime ally of former President Donald Trump, is planning a significant donation to support Trump's potential 2024 presidential run. Perlmutter, who has previously donated millions to pro-Trump super PACs, is one of the wealthiest backers of Trump's campaigns. His decision to back Trump again could pose a challenge to Florida Governor Ron DeSantis, who is also vying for the Republican nomination. Perlmutter's support is expected to go to the Trump-allied Make America Great Again super PAC.
Former Marvel executive Ike Perlmutter claims that his firing from the company was due to fundamental differences in business between his thinking and Disney leadership, particularly over the growing costs of producing Marvel films and their respective runtimes. Perlmutter clashed with current Disney leadership in recent years to ensure the "bottom line," and he believes that his termination was a convenient excuse to get rid of a longtime executive who dared to challenge the company's way of doing business. Perlmutter has been a controversial figure in Marvel's leadership, seeking to fire popular executive Kevin Feige in 2015 and attempting to scuttle plans for the Black Panther and Captain Marvel movies.
Former Marvel chairman Ike Perlmutter expressed support for Florida Governor Ron DeSantis during their public feud with Disney over the "Don't Say Gay" law. Perlmutter claims he was fired from Disney due to his combative relationship with top brass and his lobbying for cost-cutting measures. He retains control of his $3 billion stake in the company. DeSantis led a crackdown on Disney's business operations in Florida after the company waded into local politics. Disney is planning to cut 7,000 jobs as part of a $5.5 billion spending cut.
Ike Perlmutter, former chairman of Marvel Entertainment and largest individual shareholder in Disney, has publicly expressed his dissatisfaction with the company's direction, claiming he was fired for his "fixation on fiscal discipline" and support for activist shareholder Nelson Peltz. Perlmutter, who sold Marvel to Disney for $4 billion and holds about $3 billion in Disney shares, said he will continue to hold his Disney stock and "seek improvements" for shareholders.
Ike Perlmutter, the chairman of Marvel Entertainment and one of Disney's largest individual shareholders, claims he was fired for complaining about the high cost of Marvel movies. Perlmutter accused Disney of being too focused on ticket sales and revenues while letting costs get out of control. He even claimed that former Disney CEO Bob Chapek agreed with the high spending, yet was powerless to change things. Disney justified the job cuts, totaling 7,000 employees, as a way to slash costs and remove redundancies.
Ousted Disney executive Ike Perlmutter, who owns a reported 30 million shares of the company, equating to roughly $3 billion, told Florida Governor Ron DeSantis he was "right" in his ongoing battle with the media giant. Perlmutter warned executives, "Don’t get involved in politics. You’re going to get hurt. It’s a no-win situation." Perlmutter's comments come after CEO Bob Iger defended the company's actions during its annual meeting of shareholders on Monday. The fight stems from what has largely been seen as a politically-targeted response over the Disney's reaction to the so-called "Don't Say Gay" law.
Disney CEO Bob Iger has laid off Ike Perlmutter, the former head of Marvel Entertainment, as part of a $5.5 billion cost-cutting drive that includes eliminating 7,000 jobs. Perlmutter, who sold Marvel to Disney for $4 billion in 2009, had a volatile tenure at Disney and repeatedly clashed with key executives. He was notorious for focusing on costs and opposing Marvel movies that starred Black or female superheroes. Perlmutter's departure removes a longstanding source of tension within the media giant.
Disney has fired Marvel Entertainment chairman Ike Perlmutter, who had backed an activist campaign against the company's CEO Bob Iger. Perlmutter, who established Marvel Studios as the future of Hollywood with 2008’s Iron Man, was laid off via phone as part of cost-cutting measures. Marvel Entertainment will be folded into larger Disney units, while Perlmutter’s co-president and chief counsel were also laid off. The layoff of Perlmutter comes days after Disney announced it would cut 7,000 staff amid financial difficulties and rising costs.
