A day after the Walt Disney Company released its Q1/2023 report, CEO Bob Iger announced job cuts and a restructure. In a CNBC interview Iger said he prefers to stay with the company for only two more years, and that he is now open to selling Hulu.
“As Iger was quizzed on in this CNBC interview, that's a potential $9 billion dollar hit that it will have to take to acquire Hulu, which is essentially a distribution platform. Disney already has one of those, it has Disney+ and it's global, so Hulu is only in the US,” says Matt Belloni of Puck News. “So Iger’s calculus here is, ‘Why are we going to spend all this money on Hulu, if we already have the distribution platform?”
Plus, dissident shareholder Nelson Peltz has dropped out of the proxy fight for a board seat. Belloni and Kim Masters discuss what this all means for Disney.