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Tags: disney | bob iger

Disney CEO Iger to Exit in 2026, Says ABC Not for Sale

Disney CEO Iger to Exit in 2026, Says ABC Not for Sale
Disney CEO Bob Iger (Mark Lennihan/AP/2019 file photo)

Wednesday, 29 November 2023 03:39 PM EST

Walt Disney Chief Executive Bob Iger said Wednesday he would "definitely" step down when his current contract ends in 2026 and that the ABC broadcast network was not for sale.

In a wide-ranging interview at the New York Times Dealbook Conference, Iger also said he was "bullish" on the prospects for Shanghai Disneyland and he expected the company would expand the theme park "relatively soon."

Iger returned to Disney as CEO in November 2022, less than a year after he retired, to revamp the media company after the board ousted his hand-picked successor, Bob Chapek.

Disney's ABC unit is not up for sale, Iger said as the company deals with a decline in linear television because viewers are shifting toward streaming. Iger had said earlier this year that networks such as ABC may not be "core" to Disney going forward.

Disney shares were up 0.3% in afternoon trading at $92.81 on the New York Stock Exchange.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
Walt Disney Chief Executive Bob Iger said Wednesday he would "definitely" step down when his current contract ends in 2026 and that the ABC broadcast network was not for sale.
disney, bob iger
156
2023-39-29
Wednesday, 29 November 2023 03:39 PM
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