A recent reports suggests that a dozen Disney executives, both current and former have raised concerns that CEO Bob Iger primary goal might not be to save the company, but rather to maintain its stability until he can sell it to Apple.
The long-standing rumor about Apple potentially buying Disney resurfaced recently, though neither company has confirmed anything. It’s improbable that Apple would acquire all of Disney, but they might consider purchasing parts of it. Apple boasts substantial capital, with $202.6 billion in cash on hand, a staggering sum. CNBC suggests that Bob Iger, Disney’s CEO, aims to hold onto his position and eventually sell the entire company to Apple.
These two giants have a history together, dating back to 2006 when Steve Jobs, then Apple CEO, became Disney’s largest shareholder after Disney acquired Pixar for $7.4 billion. This partnership also strengthened the relationship between Iger and Jobs.
Despite Apple TV+ gaining visibility, it pales in comparison to Apple’s primary revenue stream—selling bsuinesses. Acquiring ESPN, with its declining subscriber base, might not be a wise move, especially considering the hefty price tag of around $100 billion.
Anthony Sabino, an attorney and professor at St. John’s University told THR, Iger’s contract extension and the potential sale of Disney TV holdings indicate that Disney’s board has confidence in his leadership and is not considering selling the entire company.
“It’s a given, it’s an absolute certainty that if there was some talk of Disney merging with somebody else, that would be scrutinized to the nth degree by the FTC, by the Department of Justice,”Sabino said. “So that would be basically walking into a bear trap that I’m not sure any company would be willing to get itself immersed with.”
