Investing 23-11-2022 23:06 10 Views

This award-winning editor says Bob Iger could sell Disney to Apple

Walt Disney Co (NYSE: DIS) renamed Bob Iger as its Chief Executive last week. He now has two years to conjure a turnaround and find a suitable successor.

That’s what Invezz has reported already.

Another option is on the table as well

Interestingly, though, there’s another recourse on the cards as well, Joe Bel Bruno suggested in his recent piece for the “The Wrap” – and that is to sell the company altogether.

Executives and employees of Disney are now wondering whether this is his end game. That’s the scuttlebutt inside. Why would Iger come back. Why didn’t they bring back Iger before they renewed Chapek’s contract.

If true, Bruno dubs Apple Inc (NASDAQ: AAPL) a potential suitor, considering Iger was close friends with Steve Jobs following the $7.4 billion acquisition of the visionary’s Pixar in 2006.

For the year, Disney stock is currently down nearly 40%.

What could Disney get out of such a deal?

Earlier in November, Disney reported thoroughly disappointing results for its fourth financial quarter and sounded dovish for the future as well. Explaining why such a deal would be of value for Disney in crisis, Bruno said on CNBC’s “The Exchange”:

You’re seeing a lot of money losing at Disney+ and ad sales are in a slump. This deal could put them in a phone that gets straight through to every consumer probably on the planet. It would be a great pipeline in order to do so.

Sure, Tim Cook – the current Chief Executive of Apple Inc is not known for acquisitions.

But he did say on a call with investors earlier this year that he’s open to buying a large company with strong intellectual property, Bruno reminded in his story published on “The Wrap”.

The post This award-winning editor says Bob Iger could sell Disney to Apple appeared first on Invezz.

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