General Entertainment CNBC: Bob Chapek and Bob Iger had a falling out, they rarely talk — and the rift looms over Disney's future

[Commissar SFLUFAN]

'Extremely awkward': Bob Chapek and Bob Iger had a falling out, they rarely talk — and the rift looms over Disney's future

WWW.CNBC.COM

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Former Disney CEO Bob Iger chose Bob Chapek to succeed him, but their relationship soured quickly, and the pressure is on Chapek to show he's right for Disney.

 

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While much of the public narrative has centered around Iger's "long goodbye" — he departed as chairman in January — Chapek, 61, has actually been firmly in control of Disney for more than 18 months.

 

Normal times would have allowed Iger and Chapek to work more closely. Instead, the two executives barely spoke to each other. Chapek has a small circle of close confidants with whom he makes major decisions — longtime right-hand man Kareem Daniel, chief of staff Arthur Bochner, and, to some degree, Chief Financial Officer Christine McCarthy, whom Iger promoted to the role in 2015, according to people familiar with the matter.

 

Iger hasn't been part of that circle.

 

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In October 2020, about eight months after he took over as CEO, Chapek announced Disney was strategically reorganizing its media and entertainment businesses. This was Disney's second major reorganization in less than three years. The key part of the announcement was the following:

 

"The new Media and Entertainment Distribution group will be responsible for all monetization of content —both distribution and ad sales — and will oversee operations of the Company's streaming services. It will also have sole P&L accountability for Disney's media and entertainment businesses."

Those two sentences upended how Disney has done business for decades. The change gave Daniel, the leader of the new Media and Entertainment Distribution group, called DMED internally, one of the most important jobs in the history of media. The decision was instantly polarizing, leading to a burst of internal frustration among some veteran Disney employees who no longer controlled the budgets of their divisions, according to people familiar with the matter.

 

Chapek wants to streamline Disney so content decisions across distribution platforms can be made in synchrony. Instead of division heads running their own fiefdoms, Chapek and Daniel can steer Disney by controlling the budgets of each group and deciding where content ends up — streaming or cable or broadcast or movie theaters. Executives can then focus on making content, or selling ads, or building streaming technology, with direction from Chapek and Daniel. Historically, the heads of Disney TV or ESPN or Hulu or film would run their entire businesses.

 

[Guest]

Imagine being the head of a mega corp like Disney and being such a cry baby because you’re being overshadowed by maybe the greatest CEO in entertainment industry history.

[Kal-El814]

10 minutes ago, sblfilms said:

Imagine being the head of a mega corp like Disney and being such a cry baby because you’re being overshadowed by maybe the greatest CEO in entertainment industry history.

 

Much like I did for FIFA, I submit my candidacy for CEO of Disney. I’ll take 25% of the compensation, deliver 50% of the results, and provide 0% of the drama.

 

Think of the fucking savings, Disney.

[LazyPiranha]

23 hours ago, Kal-El814 said:

 

Much like I did for FIFA, I submit my candidacy for CEO of Disney. I’ll take 25% of the compensation, deliver 50% of the results, and provide 0% of the drama.

 

Think of the fucking savings, Disney.

0% of the drama?  You’d greenlight a Last Jedi trilogy before lunch.

[Kal-El814]

17 minutes ago, LazyPiranha said:

0% of the drama?  You’d greenlight a Last Jedi trilogy before lunch.

 

Making good movies people like = drama free, baby

[LazyPiranha]

1 minute ago, Kal-El814 said:

 

Making good movies people like = drama free, baby

*Glances in Turning Red’s general direction
 

Riiiiiiiiiiiiiiiight

[Kal-El814]

21 minutes ago, LazyPiranha said:

*Glances in Turning Red’s general direction
 

Riiiiiiiiiiiiiiiight

 

I'll cast white men exclusively.

[Kamusha]

Chapek really flubbed his response to the Florida "Don't Say Gay" bill. Iger is pretty disappointed by how he's handling it so I imagine that adds to everything between them already.