Comcast CEO Brian Roberts Says It’s ‘More Likely Than Not’ They’ll Sell Remaining Hulu Stake to Disney

Writers Guild of America is opening up a new front against the studios as its strike continues, as WGA West President Meredith Stiehm sent an open letter to Netflix and Comcast shareholders calling on them to reject the pay packages for those companies’ top executives that are up for a vote. Netflix is set to have its annual shareholders meeting on June 1, with Comcast, parent company of NBCUniversal, holding its shareholder meeting on June 7.

The Wall Street Journal reported that the two media and entertainment giants want to reach a deal to resolve the ownership of Hulu, but the disagreement over how much the nation’s fifth-largest streaming service is worth is stalling progress. Neither Disney nor Comcast responded to requests for comment.Disney owns two-thirds of Hulu, while Comcast owns one-third, acquired when it took control of one of the streamer’s founding backers, NBCUniversal, in 2011.

If the feud between Disney and Florida Gov. Ron DeSantis was going to be escalated yet again, parks chief Josh D’Amaro didn’t seem like he would be the one to do it.

If you figured the war between Disney and Gov. Ron DeSantis was going to take a breather for the weekend, think again.

Harrison Ford fought back tears at one of the biggest premieres at this year’s Cannes Film Festival. No expense was spared as Disney jetted its top executives, including CEO Bob Iger, to the South of France for “Indiana Jones and the Dial of Destiny,” the fifth chapter in one of the most celebrated film franchises in movie history. But when the credits rolled on this action epic involving time travel directed by James Mangold, Cannes only mustered a slightly muted five-minute standing ovation for the film. The biggest cheers of the night were reserved for Ford, who was summoned to the stage by festival director Thierry Frémaux to receive a surprise Palme d’Or after a reel of his greatest roles played onscreen.

Bob Chapek, Former CEO 2022 Chapek compensation: $24.2M/ -25.5% Bob Iger, CEO 2022Iger compensation: $15M/ -67.3% Median employee compensation: $54,256 Chapek pay ratio to median employee: 446 So long, Mr. Chapek! It was a rocky time atop the Magic Kingdom for the Disney chief, who was booted from his post in November just months after the company’s board renewed his contract. During Chapek’s tenure Wall Street soured on Disney’s spending on its streaming service, to say nothing of a near employee revolt over his stumbling response to Florida’s “Don’t Say Gay” law.

The CEO of NBCUniversal parent Comcast said it’s “more likely than not” the company will end up selling its third of Hulu to Disney, after his Mouse counterpart indicated clearly last week that this would be Disney’s preferred outcome. There’s been some grandstanding over the past year as the deadline approaches, but both of Hulu’s parents appear to be on or near the same page now.

The CEO of NBCUniversal parent Comcast said it’s “more likely than not” the company will end up selling its third of Hulu to Disney, after his Mouse counterpart indicated clearly last week that this would be Disney’s preferred outcome. There’s been some grandstanding over the past year as the deadline approaches, but both of Hulu’s parents appear to be on or near the same page now.

Twitter has a new CEO.

Wall Street Journal report that she is in talks to become Twitter’s new chief executive officer. “It has been an absolute honor to be part of Comcast NBCUniversal and lead the most incredible team,” she said in a statement. “We’ve transformed our company and the entire industry—and I am so proud of what we’ve accomplished together, and grateful to my colleagues and mentors, especially Brian Roberts, Mike Cavanagh and the entire NBCU leadership team.”Since joining NBCU in 2011, Yaccarino’s team has generated more than $100 billion in ad sales, expanded the company’s reach globablly, helped launch Peacock, and made massive investments in data and technology capabilities.

Disney is the DJIA’s worst performer today with shares down over 8% after reporting fiscal second quarter earnings that were mixed and a bit messy as the company and industry reset.

Cynthia Littleton Business Editor Disney is going on a diet — but Hulu is still on the menu. Disney CEO Bob Iger and chief financial officer Christine McCarthy delivered a clear message on Wednesday to Wall Street and to Hollywood during Disney’s quarterly earnings call. Disney will cut the overall volume of content produced for its streaming platforms — primarily Disney+ and Hulu — as it deals with a much tighter macroeconomic environment, not to mention the uncertain impact of the writers strike that began May 2. After spending just under $30 billion on content in Disney’s 2022 fiscal year (which ends in September), Iger has targeted $3 billion in savings for 2023. Of that $30 billion, about 30% is devoted to sports rights for ESPN and ABC Sports.

Stockholders have expressed serious displeasure with 2022 executive compensation at Warner Bros. Discovery led by CEO David Zaslav, according to the result of a vote at the annual meeting Monday that was filed with the SEC today.

Disney chief executive Bob Iger weighed in on AI today, staying general but calling the battleground technology good for Disney’s business, but disruptive.

combined into one app offering by the end of the year on Wednesday, Disney CEO Bob Iger has suggested that the future of the hybrid subscription/ad-supported streamer remains in the hands of rival Comcast. Under a 2019 put/call agreement, Disney can buy out the NBCUniversal parent’s 33% minority stake in Hulu as early as January 2024 – and Comcast can require that Disney do so.

What many saw as inevitable has finally come to pass. During the company’s annual earnings call, Disney CEO Bob Iger revealed that the Walt Disney Company will roll out a singular streaming app by the end of 2023.

William Earl Disney CEO Bob Iger criticized Florida governor Ron DeSantis’s political moves in Florida on the company’s May 10 Q2 earnings call. The business-political feud was brought up as a result of a shareholder asking about the parks in Florida while there are political battles with the governor. “Regarding Florida, I got a few things I want to say about that bill,” he said. “First of all, if the case that we filed last month, made our position and the facts very clear, and that’s really that this is about one thing and one thing only and that’s retaliating against us for taking a position about pending legislation. And we believe that in us taking that position we are merely exercising our right to free speech. Also, this is not about special privileges or a level playing field or Disney in any way using its leverage around the state of Florida.

Todd Spangler NY Digital Editor Disney is pulling Hulu tighter into the Mouse House. On Disney’s earnings call Wednesday, CEO Bob Iger said the company will soon launch a “one-app experience” in the U.S. that incorporates Hulu content into Disney+. The new combined offering will launch by the end of 2023, he said. “While we will continue to offer Disney+, Hulu and ESPN+ as standalone options, this is a logical progression of our [direct-to-consumer] offerings that will provide greater opportunities for advertisers while giving bundle subscribers access to more robust and streamlined content, resulting in greater audience engagement and ultimately leading to a more unified streaming experience,” Iger said.

The Walt Disney Co. reduced losses in its streaming business by 26% (about $200 million) in its fiscal second quarter as the company’s overall results matched Wall Street expectations.

Disney will roll out a single streaming app with programming from ESPN+, Hulu and Disney+ by the end of this year.