Bob Iger is returning to Disney as CEO, retaking the reins of a company that’s very different from the one he led when he stepped down as chief executive in February 2020.
With $1.5 billion in streaming losses last quarter alone, park fans unhappy, sinking cable networks like
+, Hulu and most importantly, Disney+ — had been the most vital part of the company’s vast media kingdom. It served as a life raft for Disney in the early days of the pandemic — one of the most tumultuous periods in the company’s history — and grew to 100 million subscribers in just 16 months. Now, that business has become an anchor that’s weighing it down. The company reported earlier this month that Disney+ exceeded Wall Street’s expectations for subscriber growth.
lose viewership. That has hurt Disney’s entire business. This was a major point of contention for Dan Loeb, the activist investor and Third Point CEO who made headlines in August when he suggested “a strong case can be made that the
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