The financially troubled Walt Disney Company has extended CEO Bob Iger’s contract through 2026, adding two years to what had been expected to be a brief return to the spotlight.
Since Iger swooped in last year on a mission to save Disney following the disastrous tenure of Bob Chapek, the woke company appears to have gone from bad to worse as box-office flops keep piling up and the company’s theme parks — once a reliable cash cow — are seeing attendance falter as more families are deciding to stay away.
Politically, Bob Iger has exacerbated Disney’s war with Florida with the two sides now embroiled in messy lawsuits stemming from Disney’s decision to pick a fight with Gov. Ron DeSantis (R) over the state’s Parental Rights in Education Law, which shields public school students from radical gender ideology, including transgenderism, and other forms of LGBTQ indoctrination.
Iger had originally pledged to “quiet things down” on the political front when he returned to Disney.
At the box office, Disney keeps racking up expensive flops.
Indiana Jones and the Dial of Destiny is underperforming expectations and is predicted to fall short of break-even in cinemas — the latest indignity to befall the once-sterling Lucasfilm brand.
Other high-profile duds include the live-action remake of The Little Mermaid, whose woke casting alienated audiences in key overseas markets; Marvel’s latest Ant-man sequel; and Pixar’s Elemental, which features a gender “non-binary” character.
One box-office analyst recently estimated Disney has lost a stunning $890 million on its last eight releases.
Disney parks also appear to be in trouble.
Disney World in Orlando, Florida, experienced a drop in attendance over the recent July 4 holiday that one analyst described as “unfathomable.”
Sticker shock has gotten so bad at Disney parls that some analysts are sounding the alarm. As Breitbart News reported, analysts at KeyBanc recently lowered their rating on Disney to “Sector Weight” from “Overweight” and gave the stock a price target of $85.
Among their concerns was what they saw as weak theme park attendance, which makes Disney’s attendance projections seem out of reach.
Under Iger, Disney is laying off 7000 workers worldwide — an unprecedented bloodbath that has tanked employee morale.
Follow David Ng on Twitter @HeyItsDavidNg. Have a tip? Contact me at dng@breitbart.com
COMMENTS
Please let us know if you're having issues with commenting.