BURBANK, Calif. (AP) — Bob Iger, the enterprising entertainment executive who brought Star Wars, Pixar and Marvel under the Disney marquee and challenged the streaming dominance of Netflix, will replace his handpicked successor, CEO Bob Chapek, whose two-year tenure has been marked by clashes, missteps and a weakening financial performance.
Stocks ended lower on Wall Street at the beginning of a holiday-shortened week.
The S&P 500 fell 0.4% Monday, while drops in tech companies helped pull the Nasdaq down 1.1%. The Dow Jones Industrial Average held up better, ending down just 0.1%.
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday:
Carvana Co., down $1.01 to $7.05.
The used-vehicle chain is cutting 1,500 jobs, or 8% of its workforce.
Activist investor Daniel Loeb said Sunday that he is no longer pushing Disney Corp. to spin off or sell its blockbuster cable network ESPN.
Disney CEO Bob Chapek had rejected Loeb's urging in an interview with the Financial Times, published Sunday, in which Chapek said Disney had been “deluged” by companies expressing interest in ESPN, which he took as a sign of ESPN's potential.
Walt Disney Co. said Wednesday it is raising prices for streaming subscribers in the U.S. who want to watch Disney+ without ads, as more viewers switch to what CEO Bob Chapek described as the “best value in streaming.”
ORLANDO, Fla. (AP) — Even though only a small percentage of Walt Disney Co. workers participated in a walkout Tuesday, organizers felt they had won a moral victory with the company issuing a statement denouncing the anti-LGBTQ legislation that sparked employee outrage.
ORLANDO, Fla. (AP) — Disney workers are planning walkouts during their breaks every day this week to protest CEO Bob Chapek’s slow response in publicly criticizing Florida legislation that critics have dubbed the “Don’t Say Gay” bill.
TALLAHASSEE, Fla. (AP) — Walt Disney Co. is suspending its political donations in Florida after the company’s CEO received huge blowback for not using Disney's vast influence in the state to try to quash a recently passed Republican bill that would prevent teachers from instructing early grades on LGBTQ issues.
The Walt Disney Co. swung to a profit in its most recent quarter as reopened parks provided a revenue bounce.
Revenue in the parks and products division surged to $4.3 billion from $1.1 billion a year ago, as theme parks closed last year were open for part or all of this year’s quarter.
ORLANDO, Fla. (AP) — Disney's top executive says the Centers for Disease Control and Prevention's decision to ease up mask-wearing requirements for fully vaccinated people is “very big news for us.”
NEW YORK (AP) — Disney second-quarter revenue dropped as the pandemic continued to weigh on its parks and theme parks. Disney+ subscriptions continued to surge but missed some analyst expectations. Still, net income beat expectations and CEO Bob Chapek said signs of recovery can be seen across the company's business as the pandemic begins to wane.
NEW YORK (AP) — The Walt Disney Co.’s streaming plans shifted into hyper speed Thursday, as the studio unveiled a galaxy’s worth of new streaming offerings including plans for 10 “Star Wars” series spinoffs and 10 Marvel series that will debut on Disney+...
“Mulan” is no longer headed for a major theatrical release. The Walt Disney Co. said Tuesday that it will debut its live-action blockbuster on its subscription streaming service, Disney+, on Sept...