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Unfortunately, the sale of ABC is going to basically bail Disney out of a bad situation with Hulu unless the Hulu sale price comes back at +$15 billion. But that is the short game. What is the long? The hit pieces for Disney coming from shows like GMA from a production team extremely bitter over the sale will be insane. Iger is going to absolutely get roasted. If Disney is smart they will put in the purchase contract a clause that ABC nor its staff can run any Disney related news stories for a certain period of time (several months). But I question whether this is even on their radar. What is on their radar is trying to find the money to buy Hulu early next year. Disney's contract with Comcast is likely to see a boast to their Disney + numbers for sure. Although I question if this will actually raise their income any as those "subscriptions" will be offset by the money they would make from the licensing agreement anyway. But Iger is playing a complicated game of Chess and he thinks right now he has gotten it ahead. But the sale of ABC and everything that goes with it all but cuts into their future options. They might still have some wiggle room with ESPN (especially now that they partnered with a online betting company) but unless the movies, parks, and cruises start making big profits, Disney could face a potential hostile takeover within the next year. And on a point of clarification, Disney bought ABC for $19 billion and they are looking to sale it for $10 billion out of desperation. The problem is they know they have no leverage on the sale. They need money. The buy knows they need money so I really don't think Disney can push the price up with a counter offer. This $10 billion price is what has basically been settled on.
@@jermeycoldworld1898I'm curious if this law suit isn't settled, would Chapek have to testify in court and if he had signed an NDA when he was fired ( of course he would have had to to get his money. After all remember he was not fired for cause. ) I'd be interested to hear what he would have to say in a court if that NDA was nullified ?
Bob Iger is like that Simpsons meme where Homer jumps out of the car rolling down the hill to fake a death, only to roll back into the drivers seat before it goes off the cliff. He had the perfect out to let the Titanic he drove into the iceberg sink, but his own ego got the best of him and now, he's going to go down in history as the man who ultimately destroyed Disney. So, yeah... (Tony Stark) "Not a great plan."
But Chapek was trying to drive it away from the iceberg, if he did that then Iger wouldn’t have had his place in history, how could Iger let that happen?
Great reference but Homer wasn't trying to fake his own death (that time), he was trying to steal and wreck Moe's car so he could get the insurance money. Still an apt analogy either way!
The most complete, analytical and unbiased factual review of corporate politics currently on internet! It’s thought-provoking and sad that this kind of material won’t hit mainstream media.
@@terpfen I beg your pardon, Midnight's Edge has been covering this topic way before this CNBC article. I don't care it's crom CNBC, it's on internet. It's not TV or pinrted media. Not mainstream, buddy.
The proof is the simple fact that the bad business practices that have ruined Disney started under Iger and have been reinforced since his return to "save" it.
After this is all over, Bob Chapek is probably going to be even richer, as he comes out as the hero in this whole messy story. He tried to save Disney (even though they don't deserve it) and was able to avoid everything before the whole house of cards collapsed.
I've been saying this since before COVID: Iger ruined Disney. People didn't see it at the time because their ooga-booga Wallstreet brains were going "stonk go up, Iger good" but literally all of his decisions were for short-term gain at the cost of Disney's image long-term, and he clearly never understood what made Disney so great in the first place. I do believe that Iger intentionally wanted Chapek to fail just to make himself look good in comparison, I don't think it worked, and I hope Iger is remembered as the guy who destroyed Disney as a brand. Iger is a lesson on why you don't sell your soul to Blackrock and Vanguard -- they have a knack for running reputable brands straight into the ground after making a quick buck out of them and turning them into a pride parade.
Bob Iger's ego gets there a week before he does. He hired Chapek as a scapegoat to take the fall for all the damage he inflicted. But when he saw that Chapek wasn't going to be a sheep, but was going to actually run the company as a company for profit, not a woke propaganda machine, that very same ego would not allow him to do that. Now he will have to go down with the ship that he poked all those holes in. And I for one, am thoroughly enjoying the destruction of Disney and all that woke BS. Karma's a bitch ain't it Iger? 😅
Wouldn't be funny if that movie had a diverse cast for the main characters so the Bobs, Kennedy and the rest of circus clowns I mean Disney executives, that actually would be a curve ball to me, at first I would not know if I am seeing a parody or if even the true tale of Disney's fall has to have a quota.
Chapek: Gets highest share price and addresses a modern problem with restructuring the company. Iger: Ruined Disney beyond repair and now has lowest share price in all their corporate history.
The saga of Tiny Peen Iger continues! I love that the man who wanted to be seen as "The best thing to ever happen to Disney" eventually set himself up to become "The one who killed Disney outright". With an ego the size of Iger's, that has GOT to hurt. 🤣 Chapek might've lost the war, but in the long run, he's going to be the winner eventually.
I bet he laughing at Iger right now as Iger is unable to raise the share price and everything is bombing left and right and the icing on the cake is that is when Universal opens epic Universe the parks are likely to be drained of their customers in favour of Disney's rival whom they are helping because of the Hulu deal!!
Igor(not at typO) isn't the only reason for Duh!-sney's decline. You can also blame the board members and investors foolish enough not to get rid of him and the rest of the "woke" drones at the company.
China knew since, what? April 2019 as they started building hospitals for it, wouldn't be far fetched that he had access to info from the CCP as he worked so closely with them. It's disgusting.
I felt that Iger was a narcissistic and egoist person from the first time I heard him. But this was after he purchased Lucasfilm, before that I more or less didn't know who he was. But it seems I was right and it's proven over and over again.
Agreed I think Disney would need to have all it's leadership ( including the Board ) completely scrubbed and reset back to a time when Disney was not so bloated with Different companies ( Pixar, Marvel, Lucasfilms ) focused on what it did best ( family entertainment and working with companies like Netflix and Amazon to stream it's content instead of the failure of Disney+
The office politics between the Bobs could make the most captivating drama series Disney ever produced. If only “Big” Bob could swallow enough ego to make a series out of it, its ratings may even help save the streaming service that’s dying on his watch!
They could make all names of people and organizations completely fictional. The main meat is the corporate game of thrones, so the company does not need to be in the Entertainment industry. It would have been nice if it is though, so the audience can see more parallels.
I would really appreciate if you and your team do an explanation of how Bob Iger got his original Disney CEO position in the first place. Thanks and Great Job!
It happened during the Eisner era when he was second in command and took over after a board review. At the time Eisner was going at it with Katzenberg who wanted a promotion but Eisner blocked him so Katzenberg quit to start his own company DreamWorks with Spielberg and Geffen. Board wanted Eisner out as animation was failing in the 3D era so Iger stepped in and bought Pixar.
I feel like I am watching good old Disney classics, but in adult form. This is pure entertainment. I'm just missing the soundeffects and Mickey and Donald voices.
This video really highlights just how bad so many of the creatives not just in Disney but in Hollywood are. I’ve said from day, one of all this, starting that these are people who have a surface level, understanding of writing, and unlike the great writers who can weave a theme into a great story they only know how to stand on a soapbox and scream. Of course they want tiger back because Eiger was too invested in his own reflection to actually hold them accountable for their bad actions I mean who wouldn’t want a job where you can fail constantly and still get paid?
Suppose Chapek had not generally during his time at Disney tried to further his career by interfering with other areas of responsibility than his own through corporate politics. Perhaps Iger noticed this only to conclude Chapek must lack ambition and thus would be a suitable lackey. That could indeed have been a big mistake. Just because someone as Iger allegedly put it has "integrity" and would prefer to get the job done instead of instead of undermining others does not necessarily mean said individual would stand being undermined and jerked around by someone else encroaching upon their area of responsibility. But of course something that obvious should clearly not have been missed by a person of such emotional intelligece as Bob Iger.
While this is all very interesting, it’s also absurd that this was allowed to happen. I wonder if there is any way Disney can get back to the top of the mountain, or are they too far gone?
Eventually, if the stock continues to fall (which it will if earnings continue to fall), it will either be bought out or restructured. If bought out as a vanity project by Apple, it could actually stay bad for much longer, since losing $5 a year is pocket change for Apple. But if it stays independent, the entire content making parts will be completely reorganized.
@@MidnightsEdgeNot just the board. They’d have to fire lots of the lower level workers in Disney. But then that raises the issue of finding enough people to replace them.
Can Disney come back? It depends on if it’s bought out (Apple or Amazon) or if a major investor (someone like Nelson Peltz) comes in and takes over the company. If Disney is bought out by either Apple or Amazon nothing changes because they’ll have the unlimited cash flow of those two companies have to throw at their soulless cash grabs and Bob Iger and the board will more than likely stay on. Both Apple & Amazon align with Iger’s political views and it seems Iger is leaning in this direction. The problem with this scenario is that it would have to face government scrutiny and clear monopoly laws. A process that could take years. The danger for Iger approaching Amazon is Bezos, who has an even bigger ego than Iger and may not want Iger around for competition. A competition Iger will lose. If Peltz or another for profit investor comes in and then there’s a possibility of a house cleaning at Disney (Iger on down to middle management or further are removed). With a for profit CEO, board and management installed & then things shift back to customer satisfaction and then there’s a shot at a turn around for Disney. Iger will do his best to prevent this from happening hence this weeks news that more layoffs are coming in September & ABC and it’s affiliates are up for sale to bump the Disney stock ahead of the fourth quarter earnings report at the end of the month. Iger has to deliver the dividends to investors at the end of Disney’s fiscal or run the risk of Peltz coming in & restarting his proxy war. Peltz is rumored to be buying up Disney stock (if true the proxy war maybe on) and Iger is probably freaking out as the fiscal year draws to a close at Disney. So, get the popcorn ready. The last weeks of this month will be interesting to watch which way the wind blows at Disney.
Iger is a miraculous piece of shit. This truly showcases how "playing the game" works in the corporate world. Except at a much more grander scale. The real take away here is a great case study of how anyone's ego can get the best of them, regardless the size and stake of capital in a business. Iger should be sued into oblivion by shareholders for the damage he intentionally inflicted on Disney. I don't mean that in a hyperbolic way. This is egregiously bad and didn't need to happen.
Now that Chapek has been falsely accused of being in charge when streaming profits were lied about, since Iger was still there, Chapek's testimony **could** rip Iger to shreds. I expect a few trucks of money will be heading towards his house with a delivery notice, From Your Good Friend Bob I.
I think he decided that Chapek would be a good First Mate during the opening of Shang Hai because of the way he stayed on top of the crisis going on in Orlando at the time, (IE The nightclub shooting and alligator eating a 2-year-old at their most expensive resort).
I was saying that Chapek was a benchwarmer even before Chapek was ousted by Iger. I knew that Iger has a huge ego and that everything he was doing at Disney was political positioning. Iger wanted his bona fides in place so that he would be the virtuous POTUS candidate. Our friend Kamran Pasha had a very, very compelling argument that Iger’s return was because of the potential undisclosed financial losses due to the collapse of FTX. The timing supports the assertion but then so does the midterm elections. Many expectations were dashed after the midterms. If you’re blue pill or red pill I don’t care. The fact is that the Republicans, expecting a midterm sweep which is an historically safe bet for the party not holding the White house, got properly throttled. The midterms were an unmitigated disaster. But on the state level it was a good election for the Republicans, not the least in Florida. Two weeks for the dust to settle after the midterms and reading the new political landscape, Iger saw that he had no good options for 2024. Like zero options. So… out with the benchwarmer. I have reemphasized since November 2022 that Chapek was a benchwarmer and that’s why he’s gone. I also said to expect changes against the woke during the second Iger tenure. The ongoing strikes are slowing the pace of change but I still think that Iger will drive the change and steer away from the woke. Disney is making no money. Everything is failing. In a sense, it’s good that Iger is back. It’s his mess. He should clean it up. This mess is because Iger failed as a CEO. He took control of a successful company, spent money like a drunken sailor and borrowed money because in the 2010’s, money was really really cheap. Debt cost nothing. Iger made choices for his political career, not for Disney. Not for the fans. Not for the paying customer. An Iger whose only ambition was to keep Disney rolling in money would have made different choices. As they say in the John Wick universe: Consequences.
Great long-format series of videos! As many have already pointed out, definitely more entertaining and interesting than most of the content Hollyweird is churning out of their sludge pipe! Great job Midnight’s Edge!👍👍
All during this time in the comments on various videos about this stuff, people would say that all this corporate drama was far more interesting than any of Disney's products.
Having read the whole CNBC piece, and having watched all that Disney mess unfold at the time, if what's reported is true, Iger has played a very dirty game. IF he hadn't wanted to leave the company, he should've stayed instead. If there's any justice, then the fall of Disney happening now will be Iger's karma and what he'll be remembered for the most in the end.
this shows just how rotten Disney at this point. If there was a true independent board or institutional shareholders that cared about the stock price and ROI, they should immediately demand Iger resign or outright fire him, pay off his consulting contract, and rehire Chapek and give him the full authority to remove all the Iger loyalists. To get Disney turned around you need a problem solver like Chapek.
Iger didn't get what he wanted. Everyone knows Chapek did the best he could under the circumstances and it really showed. Iger got what he wanted, and now he's holding the whole mess by himself.
You know, once all the dust clears and Disney is finally done burning it occurs to me that Chapek will likely be the most important... consultant?... when people actually start doing the after reports. Chapek could make millions publishing a book on the back room dumpster fire that Disney has become with all the gory details on just how inept Iger and the rest of the board are/were as well as just how it was that Iger was allowed to run roughshod all over the company with seemingly no checks.
For all the cracks on Chapek for how cheap he was in the parks, he has a sound business mind. Iger sounds more and more like a narcissist and that his legacy is going to be soiled by his own actions and behavior.
Thanks, as always, Midnight's Edge. It's funny because stories like the CNBC article come along every now and then and they're considered to be huge revelations, which, to be fair, it mostly is. However, for someone like me (and presumably everyone here in the comments) who has been following your channel for the better part of a decade (since Fant4stic), and other channels like Valliant Renegade for two or three years now and WDW Pro since he transitioned to TH-cam (I read his articles before that), I knew pretty much all of it already thanks to your excellent and underappreciated work. Regular viewers of yours are always WAY ahead of these stories.
The downfall of Iger is kind if entertaining. I find that rich men like him, or Elon Musk, Jeff Bezos, they have this ego that isn sinister. When you look behind the PR, they view other people as plebes and see themselves as all knowing. It's sickening
At 10:05 (ish), all that I can think of is the recurring Benny Hill joke when a character claims "No one has ever talked to me like that in my life!" and Benny Hill's character responds "You do not get out much, do you?".
Sounds like Chapek would be an asset to any organization that he's involved with but because Disney has so tarnished his reputation, he will probably never work for a major business again.
That makes sense, especially with Kevin Feige himself and all the other Marvel employees dogpiling on Chapek at the time (as I recall). (Great work on this series!)
Iger's big boss ego is so short sighted and because he doesn't know when to gracefully exit, he'll be remembered as the CEO that oversaw the total decline of Disney while he thinks he's making the world a better place!😂
An excellent series breaking down that CNBC novella, no other youtubers in this culture space have covered it this level of detail. Perhaps some larger Disney shareholders could do with seeing these episodes. Whatever happens Bob Iger is doomed, even if people don't believe in his Machiavellian scheming it's apparent that Iger has done his best to destroy Disney because of both his ego and his career plans on becoming a Democratic Party presidential contender. All that will remain for Bob Iger is a headstone sitting on the ruins of Disney, as marker to his monumental narcissism, hubris and arrogance.
The way Iger emphasized a lot of repeated words and phrses, like that "ran the company for 15 years" bit, reminded me a bit of Plankton (from Spongebob) constantly reminding everyone that he went to college, as if that was grounds to be taken seriously.
Iger mistook Chapek's stellar operational track record for leadership skills? That is a contradiction in conclusion. He may as well have said that he mistook Chapek's great record of leadersghip for leadership skills. For someone obsessed with his legacy, Iger is seeing his worst nightmares come true no doubt. He's going to be known as the man who ran Disney into the ground via his own delusions of grandeur. His own words have exposed him as a petty narcissist, and I won't be surprised if he has to expend a large portion of his looted fortune on lawyers and settlements soon. Well, I mean, he already is into that some. And Reedy Creek is looming.
This three part series indicated Disney is in the wrong hands. Until that's worked out, let's not buy their bad products. We vote with our wallet/purse.
Chapek should've called ScarJo right away. In this regard he made a mistake, which was quickly exploited by Iger. Chapek needed a good advisor & too bad he hadn't one
Regarding lockdowns, no one needed political insider knowledge to predict that they were coming. I know people in fortune 200 companies who were rewriting policies and preparing to make people remote workers months in advance because they could turn on the news and simply SEE what was happening overseas. Chapek was still a fall guy that I do believe.
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@scottdoesntmatter4409 Running a TH-cam channel costs money. Please feel free to suggest ways they can raise the money they need to operate.
Chapek's definitely having the last laugh as Eiger is failing on a spectacular level.
Only one E in IgEr.
Chapek is still being sued by the shareholders unfortunately
Unfortunately, the sale of ABC is going to basically bail Disney out of a bad situation with Hulu unless the Hulu sale price comes back at +$15 billion.
But that is the short game.
What is the long? The hit pieces for Disney coming from shows like GMA from a production team extremely bitter over the sale will be insane. Iger is going to absolutely get roasted.
If Disney is smart they will put in the purchase contract a clause that ABC nor its staff can run any Disney related news stories for a certain period of time (several months). But I question whether this is even on their radar. What is on their radar is trying to find the money to buy Hulu early next year.
Disney's contract with Comcast is likely to see a boast to their Disney + numbers for sure. Although I question if this will actually raise their income any as those "subscriptions" will be offset by the money they would make from the licensing agreement anyway.
But Iger is playing a complicated game of Chess and he thinks right now he has gotten it ahead. But the sale of ABC and everything that goes with it all but cuts into their future options. They might still have some wiggle room with ESPN (especially now that they partnered with a online betting company) but unless the movies, parks, and cruises start making big profits, Disney could face a potential hostile takeover within the next year.
And on a point of clarification, Disney bought ABC for $19 billion and they are looking to sale it for $10 billion out of desperation. The problem is they know they have no leverage on the sale. They need money. The buy knows they need money so I really don't think Disney can push the price up with a counter offer. This $10 billion price is what has basically been settled on.
@@jermeycoldworld1898I'm curious if this law suit isn't settled, would Chapek have to testify in court and if he had signed an NDA when he was fired ( of course he would have had to to get his money. After all remember he was not fired for cause. ) I'd be interested to hear what he would have to say in a court if that NDA was nullified ?
It's more than that. Much more. Disney is dying.
Thank you Bob Chapek, for getting us Deadpool 3 with Hugh Jackman's Wolverine. That was HIM people. Make sure to tell your friends.
That doesn’t guarantee it’ll be good.
@@lalehiandeity1649 - Especially as he is no longer involved and whoever IS can dictate any such changes or edits they like.
A billion-dollar Deadpool 3 would see a lot of egg on Bob Iger's face.
Bob Iger is like that Simpsons meme where Homer jumps out of the car rolling down the hill to fake a death, only to roll back into the drivers seat before it goes off the cliff. He had the perfect out to let the Titanic he drove into the iceberg sink, but his own ego got the best of him and now, he's going to go down in history as the man who ultimately destroyed Disney. So, yeah... (Tony Stark) "Not a great plan."
But Chapek was trying to drive it away from the iceberg, if he did that then Iger wouldn’t have had his place in history, how could Iger let that happen?
Hahaha Oh Homer…. You Genius!
Great reference but Homer wasn't trying to fake his own death (that time), he was trying to steal and wreck Moe's car so he could get the insurance money. Still an apt analogy either way!
Oh yeah, homer faked his own death with that dummy he threw into the waterfall haha @@inblackestnight9256
Iger: appoints problem-solver
Problem-solver: identifies Iger as the problem
Iger: and I took that personally
The most complete, analytical and unbiased factual review of corporate politics currently on internet! It’s thought-provoking and sad that this kind of material won’t hit mainstream media.
Too bad shareholders will never hear of this ...
Midnight's Edge is retelling and summarizing a CNBC article. It literally is from mainstream media.
@@terpfen I beg your pardon, Midnight's Edge has been covering this topic way before this CNBC article. I don't care it's crom CNBC, it's on internet. It's not TV or pinrted media. Not mainstream, buddy.
@@gilbertobrandina9487 CNBC is 100% mainstream media.
This is what 60 Minutes use to do😢
The proof is the simple fact that the bad business practices that have ruined Disney started under Iger and have been reinforced since his return to "save" it.
He has been there too long and as in Batman The Dark Knight , " You either die a hero or live long enough to become the villain."
I wonder if Iger is aware of that... I doubt it.
Don't forget Eisner. Not as much of a scumbag as Iger, but plenty evil and incompetent.
The Battle of The Bobs, the office space spin off that I didn’t know I needed.
BOBCEPTION
@@ektran4205 *Inception Gong Sound Effect*
After this is all over, Bob Chapek is probably going to be even richer, as he comes out as the hero in this whole messy story. He tried to save Disney (even though they don't deserve it) and was able to avoid everything before the whole house of cards collapsed.
@@MarvinPowell1 that’s how it will be portrayed, but he bent the knee to the Rainbow coalition.
Some people won’t forget that.
"I'm a people person! I deal with people!"
I've been saying this since before COVID: Iger ruined Disney. People didn't see it at the time because their ooga-booga Wallstreet brains were going "stonk go up, Iger good" but literally all of his decisions were for short-term gain at the cost of Disney's image long-term, and he clearly never understood what made Disney so great in the first place. I do believe that Iger intentionally wanted Chapek to fail just to make himself look good in comparison, I don't think it worked, and I hope Iger is remembered as the guy who destroyed Disney as a brand. Iger is a lesson on why you don't sell your soul to Blackrock and Vanguard -- they have a knack for running reputable brands straight into the ground after making a quick buck out of them and turning them into a pride parade.
Bob Iger's ego gets there a week before he does. He hired Chapek as a scapegoat to take the fall for all the damage he inflicted. But when he saw that Chapek wasn't going to be a sheep, but was going to actually run the company as a company for profit, not a woke propaganda machine, that very same ego would not allow him to do that. Now he will have to go down with the ship that he poked all those holes in. And I for one, am thoroughly enjoying the destruction of Disney and all that woke BS. Karma's a bitch ain't it Iger? 😅
its called Narcissism
the only other way to make Bob Iger's downfall even more satisfying is if he gets a big downgrade on his paycheck.
I would watch the movie version of this. That would be much more entertaining than any of the Disney crap.
It would, yes
There should be a tell all book first then a movie?
Wouldn't be funny if that movie had a diverse cast for the main characters so the Bobs, Kennedy and the rest of circus clowns I mean Disney executives, that actually would be a curve ball to me, at first I would not know if I am seeing a parody or if even the true tale of Disney's fall has to have a quota.
Most definitely.
After the series is done on this, should compile a longform documentary.
Chapek: Gets highest share price and addresses a modern problem with restructuring the company.
Iger: Ruined Disney beyond repair and now has lowest share price in all their corporate history.
Iger is the problem and setup Chapek to fail.
The saga of Tiny Peen Iger continues!
I love that the man who wanted to be seen as "The best thing to ever happen to Disney" eventually set himself up to become "The one who killed Disney outright".
With an ego the size of Iger's, that has GOT to hurt. 🤣
Chapek might've lost the war, but in the long run, he's going to be the winner eventually.
I bet he laughing at Iger right now as Iger is unable to raise the share price and everything is bombing left and right and the icing on the cake is that is when Universal opens epic Universe the parks are likely to be drained of their customers in favour of Disney's rival whom they are helping because of the Hulu deal!!
It's crazy to think Iger wanted to run for president at some point. Shame Chapek will end up taking the fall for everything though.
Hubris thy name is Iger 🤮
@@banbrado28 That WAS Iger's plan but it backfired greatly as he will have to take the fall for his own mistakes!!!
Igor(not at typO) isn't the only reason for Duh!-sney's decline. You can also blame the board members and investors foolish enough not to get rid of him and the rest of the "woke" drones at the company.
I 100% believe the dude knew about the Corona coming. So many other CEOs conveniently left their companies just as eruptly as Bobby did.
Also Nancy Pelosi made some good money on the stock market.
It was in China at the time and in the news, everyone knew it would get to the US soon enough, and Iger announced his stepdown. Iger is a coward.
China knew since, what? April 2019 as they started building hospitals for it, wouldn't be far fetched that he had access to info from the CCP as he worked so closely with them. It's disgusting.
Iger: "I admire Chapek's integrity, let's make him CEO!"
Also Iger: "Holy shit, I have made somebody with integrity the CEO of Disney!!!"
I felt that Iger was a narcissistic and egoist person from the first time I heard him. But this was after he purchased Lucasfilm, before that I more or less didn't know who he was. But it seems I was right and it's proven over and over again.
One man ego destroyed so much, it's unreal.
No matter what Chapek did, Iger would eventually offer him up as a sacrifice.
I'm going to enjoy seeing Disney broken up and sold piece by piece.
Or bought by Apple.
Agreed I think Disney would need to have all it's leadership ( including the Board ) completely scrubbed and reset back to a time when Disney was not so bloated with Different companies ( Pixar, Marvel, Lucasfilms ) focused on what it did best ( family entertainment and working with companies like Netflix and Amazon to stream it's content instead of the failure of Disney+
"I'm going to enjoy it. Very, very much."
- Thanos
I won't enjoy it. It's too sad.
@@lalehiandeity1649They SEC would flip out. Apple isn't buying Disney. The finishing purchase of Hulu will help them, unfortunately.
The office politics between the Bobs could make the most captivating drama series Disney ever produced. If only “Big” Bob could swallow enough ego to make a series out of it, its ratings may even help save the streaming service that’s dying on his watch!
They could make all names of people and organizations completely fictional. The main meat is the corporate game of thrones, so the company does not need to be in the Entertainment industry. It would have been nice if it is though, so the audience can see more parallels.
I would really appreciate if you and your team do an explanation of how Bob Iger got his original Disney CEO position in the first place. Thanks and Great Job!
It happened during the Eisner era when he was second in command and took over after a board review. At the time Eisner was going at it with Katzenberg who wanted a promotion but Eisner blocked him so Katzenberg quit to start his own company DreamWorks with Spielberg and Geffen. Board wanted Eisner out as animation was failing in the 3D era so Iger stepped in and bought Pixar.
The Iger vs Chapek drama sounds like it would be a great concept for a TV show.
This is the most entertaining thing Disney has done in 7+ years.
10+ years to be more exact. 😅😂🤣
I feel like I am watching good old Disney classics, but in adult form. This is pure entertainment. I'm just missing the soundeffects and Mickey and Donald voices.
Bob Chapek is probably drowning in schadenfreude juices these days.
This is equivalent to the tragedy of Darth Plagueis The Wise, but replace the death with his legacy
Iger has to be sued by all shareholders and be held accountable for deliberately sabotaging the company.
Iger is Disney's problem, but apparently it's a self-solving one.
As Norm MacDonald would've said: "You know, with Iger, the more I learn about that guy, the more I don't care for him."
This video really highlights just how bad so many of the creatives not just in Disney but in Hollywood are. I’ve said from day, one of all this, starting that these are people who have a surface level, understanding of writing, and unlike the great writers who can weave a theme into a great story they only know how to stand on a soapbox and scream. Of course they want tiger back because Eiger was too invested in his own reflection to actually hold them accountable for their bad actions I mean who wouldn’t want a job where you can fail constantly and still get paid?
Sounds to me like Iger is a poisonous snake.
Suppose Chapek had not generally during his time at Disney tried to further his career by interfering with other areas of responsibility than his own through corporate politics. Perhaps Iger noticed this only to conclude Chapek must lack ambition and thus would be a suitable lackey. That could indeed have been a big mistake. Just because someone as Iger allegedly put it has "integrity" and would prefer to get the job done instead of instead of undermining others does not necessarily mean said individual would stand being undermined and jerked around by someone else encroaching upon their area of responsibility. But of course something that obvious should clearly not have been missed by a person of such emotional intelligece as Bob Iger.
Indeed, this drama is better than ANYTHING that disney has made in the past 6 ~ 8 years
While this is all very interesting, it’s also absurd that this was allowed to happen. I wonder if there is any way Disney can get back to the top of the mountain, or are they too far gone?
Disney can be brought back, but only if the shareholders replaces the entire board.
Eventually, if the stock continues to fall (which it will if earnings continue to fall), it will either be bought out or restructured. If bought out as a vanity project by Apple, it could actually stay bad for much longer, since losing $5 a year is pocket change for Apple. But if it stays independent, the entire content making parts will be completely reorganized.
@@MidnightsEdgeNot just the board. They’d have to fire lots of the lower level workers in Disney. But then that raises the issue of finding enough people to replace them.
Can Disney come back? It depends on if it’s bought out (Apple or Amazon) or if a major investor (someone like Nelson Peltz) comes in and takes over the company. If Disney is bought out by either Apple or Amazon nothing changes because they’ll have the unlimited cash flow of those two companies have to throw at their soulless cash grabs and Bob Iger and the board will more than likely stay on. Both Apple & Amazon align with Iger’s political views and it seems Iger is leaning in this direction. The problem with this scenario is that it would have to face government scrutiny and clear monopoly laws. A process that could take years. The danger for Iger approaching Amazon is Bezos, who has an even bigger ego than Iger and may not want Iger around for competition. A competition Iger will lose.
If Peltz or another for profit investor comes in and then there’s a possibility of a house cleaning at Disney (Iger on down to middle management or further are removed). With a for profit CEO, board and management installed & then things shift back to customer satisfaction and then there’s a shot at a turn around for Disney. Iger will do his best to prevent this from happening hence this weeks news that more layoffs are coming in September & ABC and it’s affiliates are up for sale to bump the Disney stock ahead of the fourth quarter earnings report at the end of the month. Iger has to deliver the dividends to investors at the end of Disney’s fiscal or run the risk of Peltz coming in & restarting his proxy war. Peltz is rumored to be buying up Disney stock (if true the proxy war maybe on) and Iger is probably freaking out as the fiscal year draws to a close at Disney. So, get the popcorn ready. The last weeks of this month will be interesting to watch which way the wind blows at Disney.
Disney is too far gone. Disney does have to deal with the Attorney General that was brought in to go over Reedy Creek,
Iger is a miraculous piece of shit. This truly showcases how "playing the game" works in the corporate world. Except at a much more grander scale. The real take away here is a great case study of how anyone's ego can get the best of them, regardless the size and stake of capital in a business. Iger should be sued into oblivion by shareholders for the damage he intentionally inflicted on Disney. I don't mean that in a hyperbolic way. This is egregiously bad and didn't need to happen.
The more I learn, the more I can relate to chapeak iworking in a couple engineering firms. This sort of rot is everywhere.
Now that Chapek has been falsely accused of being in charge when streaming profits were lied about, since Iger was still there, Chapek's testimony **could** rip Iger to shreds. I expect a few trucks of money will be heading towards his house with a delivery notice, From Your Good Friend Bob I.
I think he decided that Chapek would be a good First Mate during the opening of Shang Hai because of the way he stayed on top of the crisis going on in Orlando at the time, (IE The nightclub shooting and alligator eating a 2-year-old at their most expensive resort).
I'm so turned off to Disney. Glad I have the old stuff on DVD.
Disney wants to stop producing bluerays and dvds...
Buy them all if you can...
@@cmbaz1140 Most definitely.
@@cmbaz1140Oh, they want us to buy more Disney Blu-Rays...at $1,500 a box! 💰 🤑 💸
I was saying that Chapek was a benchwarmer even before Chapek was ousted by Iger. I knew that Iger has a huge ego and that everything he was doing at Disney was political positioning. Iger wanted his bona fides in place so that he would be the virtuous POTUS candidate.
Our friend Kamran Pasha had a very, very compelling argument that Iger’s return was because of the potential undisclosed financial losses due to the collapse of FTX. The timing supports the assertion but then so does the midterm elections. Many expectations were dashed after the midterms. If you’re blue pill or red pill I don’t care. The fact is that the Republicans, expecting a midterm sweep which is an historically safe bet for the party not holding the White house, got properly throttled. The midterms were an unmitigated disaster. But on the state level it was a good election for the Republicans, not the least in Florida. Two weeks for the dust to settle after the midterms and reading the new political landscape, Iger saw that he had no good options for 2024. Like zero options. So… out with the benchwarmer.
I have reemphasized since November 2022 that Chapek was a benchwarmer and that’s why he’s gone. I also said to expect changes against the woke during the second Iger tenure. The ongoing strikes are slowing the pace of change but I still think that Iger will drive the change and steer away from the woke. Disney is making no money. Everything is failing. In a sense, it’s good that Iger is back. It’s his mess. He should clean it up.
This mess is because Iger failed as a CEO. He took control of a successful company, spent money like a drunken sailor and borrowed money because in the 2010’s, money was really really cheap. Debt cost nothing. Iger made choices for his political career, not for Disney. Not for the fans. Not for the paying customer. An Iger whose only ambition was to keep Disney rolling in money would have made different choices. As they say in the John Wick universe: Consequences.
Chapek was the smarter CEO when he tried correcting Disney's biggest mistake.
When will Hollywood make this a film? I'll buy a ticket to see this drama
I don't see a way out of this problem unless shareholders take drastic measures and hire hitmen to vacate the CEO and Board roles at the company.
Great long-format series of videos! As many have already pointed out, definitely more entertaining and interesting than most of the content Hollyweird is churning out of their sludge pipe! Great job Midnight’s Edge!👍👍
I cannot wait to see the motion picture adaptaion for this debacle! I wish the same people who did The Big Short would work on it!
All during this time in the comments on various videos about this stuff, people would say that all this corporate drama was far more interesting than any of Disney's products.
This video proves my hunch that Iger is a Sith Lord in disguise.
Having read the whole CNBC piece, and having watched all that Disney mess unfold at the time, if what's reported is true, Iger has played a very dirty game. IF he hadn't wanted to leave the company, he should've stayed instead. If there's any justice, then the fall of Disney happening now will be Iger's karma and what he'll be remembered for the most in the end.
I like how each of these videos end on a cliffhanger.
As a businessman, shareholder and CEO I am 100% team Bob Chapek :-)
This is going to make a great movie one day.
this shows just how rotten Disney at this point. If there was a true independent board or institutional shareholders that cared about the stock price and ROI, they should immediately demand Iger resign or outright fire him, pay off his consulting contract, and rehire Chapek and give him the full authority to remove all the Iger loyalists. To get Disney turned around you need a problem solver like Chapek.
Sooo....Iger COULD NOT avoid continuing to idealog Dizney into a crater.
I kept telling people Chapek was the good guy here. The best hope of restoring Disney to family/audience friendly state.
I love it! Comcast is sticking it to Disney with this CNBC article!
What an absolute circus. Sheesh.
Iger didn't get what he wanted. Everyone knows Chapek did the best he could under the circumstances and it really showed. Iger got what he wanted, and now he's holding the whole mess by himself.
What he did was Criminal. while simultaneously hurting Shareholders at every turn.
You know, once all the dust clears and Disney is finally done burning it occurs to me that Chapek will likely be the most important... consultant?... when people actually start doing the after reports. Chapek could make millions publishing a book on the back room dumpster fire that Disney has become with all the gory details on just how inept Iger and the rest of the board are/were as well as just how it was that Iger was allowed to run roughshod all over the company with seemingly no checks.
You should’ve released the next part by now, Andre!
For all the cracks on Chapek for how cheap he was in the parks, he has a sound business mind. Iger sounds more and more like a narcissist and that his legacy is going to be soiled by his own actions and behavior.
Right on. Thanks for sharing.
Thanks, as always, Midnight's Edge. It's funny because stories like the CNBC article come along every now and then and they're considered to be huge revelations, which, to be fair, it mostly is. However, for someone like me (and presumably everyone here in the comments) who has been following your channel for the better part of a decade (since Fant4stic), and other channels like Valliant Renegade for two or three years now and WDW Pro since he transitioned to TH-cam (I read his articles before that), I knew pretty much all of it already thanks to your excellent and underappreciated work. Regular viewers of yours are always WAY ahead of these stories.
One Bob to rule them all
Now I know why Kuntleen Kennedy got away with what she did. Iger enabled her. There is a special place in hell for both of them.
This whole story would make an interesting Netflix movie or series
Thank you for this. Amazing how the most sensitive babies with no skill end up with the power
The downfall of Iger is kind if entertaining. I find that rich men like him, or Elon Musk, Jeff Bezos, they have this ego that isn sinister. When you look behind the PR, they view other people as plebes and see themselves as all knowing. It's sickening
They come from certain "inhuman" bloodlines. There is that.
At 10:05 (ish), all that I can think of is the recurring Benny Hill joke when a character claims "No one has ever talked to me like that in my life!" and Benny Hill's character responds "You do not get out much, do you?".
Iger's ego and narcissism are so huge that he sees anyone who doesn't run Disney his way as doing a terrible job.
This is what we know about, imagine what we do not know. P.S Tom, get back to work.
Sounds like Chapek would be an asset to any organization that he's involved with but because Disney has so tarnished his reputation, he will probably never work for a major business again.
That makes sense, especially with Kevin Feige himself and all the other Marvel employees dogpiling on Chapek at the time (as I recall). (Great work on this series!)
Tf when you have been looking forward to this video more than any upcomming series or movies
Was just about to go to bed, guess I will be 25 mins late now 😆😉
same
Oh I can't wait for Chapek's NDA to expire.
The more I found out how much he was screwed over the more I respect and want to hug Chapek
Iger's big boss ego is so short sighted and because he doesn't know when to gracefully exit, he'll be remembered as the CEO that oversaw the total decline of Disney while he thinks he's making the world a better place!😂
An excellent series breaking down that CNBC novella, no other youtubers in this culture space have covered it this level of detail. Perhaps some larger Disney shareholders could do with seeing these episodes.
Whatever happens Bob Iger is doomed, even if people don't believe in his Machiavellian scheming it's apparent that Iger has done his best to destroy Disney because of both his ego and his career plans on becoming a Democratic Party presidential contender.
All that will remain for Bob Iger is a headstone sitting on the ruins of Disney, as marker to his monumental narcissism, hubris and arrogance.
The way Iger emphasized a lot of repeated words and phrses, like that "ran the company for 15 years" bit, reminded me a bit of Plankton (from Spongebob) constantly reminding everyone that he went to college, as if that was grounds to be taken seriously.
6:36 emotional intelligence? WTH is that and how is it measured? Pure silliness.
Google and Google Scholar: "Psychopaths in leadership".
Substitute: 'sociopaths'.
Universal Studios, a relative of CNBC, must be lovin' this.
Iger mistook Chapek's stellar operational track record for leadership skills? That is a contradiction in conclusion. He may as well have said that he mistook Chapek's great record of leadersghip for leadership skills. For someone obsessed with his legacy, Iger is seeing his worst nightmares come true no doubt. He's going to be known as the man who ran Disney into the ground via his own delusions of grandeur. His own words have exposed him as a petty narcissist, and I won't be surprised if he has to expend a large portion of his looted fortune on lawyers and settlements soon. Well, I mean, he already is into that some. And Reedy Creek is looming.
Well said André! So true
To be a fly on the wall or the Disney board would be so enlightening
It is just dirty....real dirty.
No wonder you guys get supressed. Great reporting.
Had Iger been shown the door and Chapek allowed to run the company maybe Disney would be on the mend...
"In its confusion it hurt itself"
Sinister CEO controlling disneys evil empire?
People are rejecting Bob's "Igerland".
It's funny bc absolutely NO ONE outside of the board room thinks Iger has a clue.
Thank you for making smart clean videos with correct vocabulary
This three part series indicated Disney is in the wrong hands. Until that's worked out, let's not buy their bad products. We vote with our wallet/purse.
Bob v Bob. Shades of Sumner Redstone v Mel Karmazin.
Chapek should've called ScarJo right away. In this regard he made a mistake, which was quickly exploited by Iger. Chapek needed a good advisor & too bad he hadn't one
13:38 I almost spit out my drink when I saw this, LOLOL.
You really should turn this into a book
I'm loving this series.
I am loving this series!
Regarding lockdowns, no one needed political insider knowledge to predict that they were coming. I know people in fortune 200 companies who were rewriting policies and preparing to make people remote workers months in advance because they could turn on the news and simply SEE what was happening overseas. Chapek was still a fall guy that I do believe.