Former Apple Board Member Bob Iger May Be Stripping Disney To Sell to Tech Company

A new report is strongly suggesting that Bob Iger, current CEO of the Walt Disney Company and former member of Apple’s board of directors, is looking to strip the iconic media company down to the point the tech giant will buy it.

Bob Iger posing in front of several screens displaying various Disney owned properties — Credit: Disney

Since Bob Iger’s notorious interview with CNBC’s David Faber at the Sun Valley Allen & Co.’s annual conference (or “billionaire summer camp” as it is often dubbed), rumors have been swirling that the CEO is planning to sell off every non-essential asset of the company and perhaps even Disney itself.

Non-Linear Disney TV Problems

That was not helped by Bob Iger’s statement that linear television (i.e. traditional broadcast and cable TV) was a “broken business model” and something he would be interested in getting rid of. As one could expect, the CEO’s public announcement that beloved parts of the company like the Disney Channel, Disney Junior, and FX were essentially disposable set off panic within the company.

Bob Iger Disney Channel — Credit: Inside the Magic

ESPN, Disney, and Gambling

Since then, Bob Iger has made some major movies for Disney, most recently opening up ESPN to sports gambling, something he had once denied the company would ever do and could be reasonably said to conflict with the family-friendly corporate image.

Now, The Hollywood Reporter reports Hollywood executives predicting that the Walt Disney Company could be ridding itself of so-called antiquated assets like the Disney Channel in an effort to be more appealing to the massively wealthy Apple.

Apple TV versus Disney+ as Disney cuts content — Credit: Apple | Disney

Steve Jobs and Bob Iger

It is also noteworthy that Disney and Apple have deep connections that are rarely advertised to the public. Apple figurehead Steve Jobs was a member of Disney’s board of directors until his death in 2011 and wielded significant influence there. Bob Iger became a member of Apple’s board of directors almost immediately after Jobs’ death.

Not coincidentally, it was Bob Iger that made Steve Jobs Disney’s largest individual shareholder when the House of Mouse bought Pixar in 2006. So, it is not as though Apple and Disney do not already have a lot of overlap between power players and business acquisition.

steve jobs (left) and bob iger (right) shaking hands — Steve Jobs and Bob Iger
Credit: Apple

Former executives have even been hired back to Disney, reportedly to help Iger sell the company to the highest bidders.

While Bob Iger has said Disney is not looking to divest of ESPN, he also said that it wouldn’t get into gambling, so there is that. It has also been speculated that he is interested in partnering with Comcast or any number of tech giants, but at this point, it is impossible to say exactly what Iger has in store for the future.

At the very least, it is worth remembering the close historical relationship between Bob Iger, Disney, and Apple when it comes to where and when a sale might happen.

Should Bob Iger sell Disney to Apple? Let us know your thoughts in the comments below!