Disney's future, a hot topic among Hollywood elite
By Dawn Chmielewski
(Reuters) — Hollywood's favorite parlor game of the week: What will Bob Iger do next?
From Culver City to New York City, the U.S. media and entertainment industry's powerbrokers are spinning scenarios about the future and the possible breakup of the industry's most powerful conglomerate.
Walt Disney (NYSE:DIS) chief executive Iger, who returned to the company in November for a second stint, triggered the vigorous industry chatter in mid-July when he suggested during a CNBC interview that the company's television businesses, including its stations and cable channels, «may not be core to Disney.»
His remarks spurred a frenzy of activity among bankers and private equity players, who began evaluating whether they should «make a move,» one banker, speaking on condition of anonymity, told Reuters.
«He's signaling to investors,» said the banker. «It starts people thinking.»
Iger fueled the conjecture last week during Disney's third-quarter earnings call with investors, when he said the company is mulling strategic partnerships for its marquee sports brand, ESPN, and has received «notable interest,» though Disney planned to retain control.
The three businesses that will drive the greatest growth over the next five years, he said, are the company's film studios, theme parks and streaming video.
One top media executive envisioned Iger spinning off the ABC broadcast network, local TV stations and Disney's cable networks such as Disney Channel or FX as a separate company, loading it with an appropriate level of debt.
Another veteran media executive predicted Disney would spin off the television asset to its shareholders as a separate, publicly traded company by 2024, with private equity potentially playing a
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