Disney recently reinstated Bob Iger as CEO in a move that has already seen positive changes for the company. One insider reportedly predicted Iger's return will bring far more substantial changes in the form of The Walt Disney Company's sale.
As reported by The Wrap, an unnamed insider predicted Iger, who has agreed to stay on as CEO for the next two years, will look to conclude his tenure by selling the company to Apple. "This is the pinnacle deal for the ultimate dealmaker." A former Disney executive concurred, stating, "I think he'd welcome it — he'd be the last CEO of Disney." The executive also noted that Disney and Apple have similar brand identities and would benefit from a merger.
Disney is currently valued at approximately $180 billion and, according to the report, its sale would likely face resistance from antitrust regulators. Neither Disney nor Apple have provided comment concerning the recent report. Worth noting, however, is that Iger and Disney have a long history with Apple. Iger himself called Apple co-founder Steve Jobs a close friend and has previously been quoted as stating that if not for Jobs' death in 2011, Disney and Apple likely would have merged, or at least the discussion would have been had.
Bob Iger's Return to Disney
Disney announced Iger's sudden return on Nov. 20. Details are scarce concerning Bob Chapek's departure, though recent reports suggest he did not receive substantial warning beforehand either. He had been CEO since 2020, though the decision to appoint him as the head of Disney was not one Iger supported. In fact, not too long after he took over from Iger, reports emerged revealing company executives held strongly negative views of him and hoped Chapek would fail so he could be replaced. Despite being diplomatic in public, Iger himself was reportedly critical of Chapek in private conversations.
According to reports, Chapek will leave the company with a severance package of at least $20 million, though the number could end up being higher and is dependent on a variety of factors including his stock holdings. Iger, meanwhile, is returning with a substantially reduced salary of $1 million per annum, with an extra $1 million as a targeted bonus. This is on top of a performance incentive of approximately $25 million. For comparison, he previously earned $3 million per year and was awarded upwards of $22 million as a bonus.
All this is not for nothing, as Iger's return to Disney has, as previously stated, already brought significant improvements to the company. When his return was announced, Disney's stock price spiked by 6.3 percent, closing at $97.58 per share.
Source: The Wrap