In an extended interview with CNBC’s David Faber, Disney CEO Bob Iger projected strength, optimism, and stability amidst the rapidly shifting media landscape.
The interview covered Disney’s plan for managing its linear cable assets, with Iger saying that the company is in a “strengthened” position in this area and sees no need to make dramatic changes to the organization.
With Disney having recently finalized its $439 million acquisition of Comcast’s Hulu shares, Iger touted the price tag as being a particularly good deal and touted the overall financial strength of Disney’s streaming business. Iger claimed that the company has experienced a “$5 billion turnaround” since he took over the CEO role at the end of 2022. Iger now plans to integrate the Hulu platform with Disney+ so to make it a “one app purchase.”
Faber also asked Iger about Comcast and Warner Bros. Discovery splitting off their cable businesses and whether Disney may eventually take similar action, especially after Iger’s previous comments in 2023 in which he indicated that he would be open to selling off its cable assets.
Iger acknowledged that “everything was on the table” when he first came back to Disney, but that he later determined that it was better to keep the company’s cable assets and streaming platforms under one roof. He described the two as a “winning combination” and gave Disney a “strengthened hand” in comparison to other media players who are leaving that business.
