3Embattled Disney CEO Bob Iger has reportedly brought back his former rival chief execs in order to carve up the legendary company and sell it off.
We recently reported that Bob Iger had brought back two former executives to the fold with an eye toward selling less-profitable parts of the Walt Disney Company, including the sports network ESPN, the Disney Channel, and basically all traditional television.
It did not help the increasingly troubled company that CEO Bob Iger gave an instantly notorious interview to CNBC’s David Faber at the Sun Valley Allen & Co.’s annual conference (or “billionaire summer camp” as it’s often known) in which he called traditional/linear TV a “broken business model” and sent that entire division of the company into panic.
Now, the New York Post is reporting that Bob Iger and his returning Disney execs are specifically looking to sell off ESPN to a Big Tech company.
Related: Bob Iger Sends Cold Mass E-Mail Regarding Disney Layoffs
Bob Iger Can’t Wait to Sell Off ESPN
While CEO Bob Iger has had no reservations at saying that he didn’t view iconic parts of the brand like the Disney Channel all that necessary, he has had more mixed statements about ESPN.
While Iger claims that he does not intend to sell the sports network entirely to another company, he is actively looking for a “strategic partner” that can help transition ESPN from a traditional linear TV channel (the thing he hates the most) to a direct-to-consumer platform, i.e., a subscription streaming platform like Disney+ or Hulu.
As such, it is being reported that the company is courting every Big Tech organization from Apple to Amazon, Google, Microsoft, T-Mobile, and Verizon to partner up over the sports network; it makes a great deal of sense that Iger would look to a tech company in order to try to change platform mode.
Former Disney Exec Already Has Experience with ESPN
Bob Iger brought back two very notable former execs, Tom Staggs and Kevin Mayer.
Over the course of his career, Tom Staggs served as Chief Financial Officer, then Chairman of Walt Disney Parks and Resorts Worldwide (now Disney Parks, Experiences and Products), and finally, Chief Operating Officer, stepping down in 2019.
For his part, Kevin Mayer operated as Walt Disney Direct-to-Consumer & International (now Disney Media and Entertainment Distribution) Chairman and was, prior to Iger’s initial departure as CEO, considered the logical successor before he was passed over for the disastrous reign of Bob Chapek.
Related: Disney’s Issues Not Bob Iger’s Fault, Says Report
Most importantly, however, Kevin Mayer presided over the launch of ESPN+, the streaming arm of the sports network, and essentially what the company wants the entire thing to turn into.
While it was initially expected that the company would be most interested in selling at least part of its stake to Comcast, it appears the failure of that approach has caused it to bring back Mayer and pivot toward a more tech-oriented company like Google or Apple.
Considering how everything has been going under Bob Iger’s stewardship, we’ll just have to see whether Tom Staggs and Kevin Mayer can right the ship.
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