Disney Selling One Of Its Biggest Businesses?
As part of a company restructuring plan, Disney CEO Bob Iger is considering selling Hulu.
Politics makes strange bedfellows, as the saying goes. Meaning that many times, for the sake of a decision, folks from different parts of a point of view will come together to make (or to try to keep something from happening). Recently Dinsey has had to make some tough decisions and had to meet with some competitors in the marketplace. In fact, Disney just cut at least 5,000 jobs last week and consolidated some departments. Hard times for Disney. Hard times for its owned companies, too.
According to CNBC, after Bob Iger rejoined Mickey’s Team, he had to figure out ways to get rid of debt and start becoming profitable again. One of those strategies, as hinted at on Thursday, is to sell off its ownership of Hulu. As Disney is an owner of many other brands, like ESPN and the Marvel name, it also dipped its big toe into the streaming game with Disney+ and owning part of Hulu.
The recently ousted CEO, Bob Chapek had plans to shore up a hard bundle of Disney+ and Hulu. This bundle would’ve given families child-friendly and adult-appropriate options in one package. However, it is not to be, as Chapek was asked to leave and Iger came back in. So, now, as a very real example of how different the two Bobs are (Iger and Chapek), Iger teased at a possible Hulu sale.
Another difference between the two Bobs? One Bob was “ok” with remote work while the other made all employees come back to the Mickey House Clubhouse, or their offices at work. Iger made it clear he means business when he ordered everyone back. And, his foot is solidly on the gas pedal when it comes to meeting his goals.
It would seem that Disney’s branding is stronger than ever, as it is selling multi-million dollar homes in the style of Disney princesses on its property. Disney’s first “town” that it founded, Celebration, is still around and prospering. And all its homes have been sold to private owners. The town is an example of modern urbanism and was created in the way towns of the past were. All homes and shops surround a town square where fun public events occur. And, it is extremely walkable.
Perhaps Iger will jump back into the real estate game in order to bring Disney back into the black from the red. More than likely not, but when we can probably guess Iger will be bringing another admission change to the parks as changing those was one of Chapek’s unpopular changes.
Chapek was very motivated to own all of Hulu, so Iger may just be goading the last CEO. However, those on the inside are also predicting Disney will have Comcast buy them out of the Hulu brand. This announcement has now put Hulu employees on high alert and is drawing attention to shareholders. Again, politics makes strange bedfellows, so we won’t know what future changes are in stock from Iger until he makes them.
