Former Disney CEO Bob Chapek, Current CFO Named in Shareholder Lawsuit Alleging ‘Fraudulent’ Streaming Statements

2ND UPDATE, 5:20 PM: Florida Gov. Ron DeSantis today won a victory in his legal skirmishes with the Walt Disney Company — but not for the reasons he wanted to.

Jordan Moreau Nearly a year after he was fired from Disney by former CEO Bob Chapek, Peter Rice has set a film and TV production deal with A24, Variety has confirmed. It’s his first major move after he was ousted. A24, hot off a leading nine Oscar wins with “Everything Everywhere All at Once” and “The Whale” this year, will co-finance film and TV projects with Rice. The deal is non-exclusive, and projects under the agreement will be backed by Rice via A24’s banking relationships. The projects will be for global distribution theatrically and on major streaming platforms. “I am incredibly excited to be an independent producer and could not be more thrilled to begin that journey in partnership with A24,” Rice said in a statement. “They have built Hollywood’s most vibrant, fearless, and creative studio. The fact that they made it out of whole cloth in a decade is a testament to their exquisite taste, razor-sharp business acumen, and infectious enthusiasm for creativity and artists. I have been blessed to work with so many amazing creators as an executive and cannot wait to start producing provocative, meaningful, and entertaining movies and TV shows with creators I admire and respect.”

Jennifer Maas TV Business Writer Disney reached its 7,000 layoffs goal, handing out notices to the remaining employees impacted in its third round of job cuts last Friday ahead of the Memorial Day holiday weekend, Variety has confirmed. The Mouse House’s target was to conclude these companywide layoffs, which focused most heavily on the media divisions and left the parks largely untouched, ahead of the summer. The company still has plans to eliminate more roles internationally over a period of time, according to a source close to the situation, but Disney has now concluded the benchmark it set in February, soon after Iger’s return as CEO upon the ousting of Bob Chapek.

Raven-Symoné had a set of rules when it came to dating back in the day. The former Disney star candidly spoke about how things were in her dating life before she tied the knot with Miranda Pearman-Maday.

Having seen his 2024 White House bid embarrassingly misfire on the launch pad last week, Ron DeSantis is once again being mocked by both the Walt Disney Company and Donald Trump for his luckless battle with the Mouse House.

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.

Reuters reported.Heresniak had claimed in the suit, which had sought class action status, that by delaying disclosure of his purchases of Twitter stock, Musk cost him and other shareholders $156 million. It was filed in May 2022, about a month after the company had accepted Musk’s buyout offer.

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.

Just over a week ago, Bob Iger rhetorically asked the adversarial  Gov. Ron DeSantis if Florida really wanted Disney’s considerable business and tax revenue, or not. Now, without mentioning the would-be presidential contender nor his attacks on the company, the Mouse House has pulled some of that business and taxes revenues from the Sunshine State.

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.

Rita Ferro, Disney’s ad sales and partnerships chief, urged media buyers at the company’s New York upfront Tuesday to “lean into all aspects of diversity” with their marketing commitments.

Comcast CEO Brian Roberts addressed the company potentially selling its 33% stake in the streamer. “I think it’s more likely than not,” Roberts said. “I’m pretty certain if and when we sell our Hulu stake, it’ll be for more than what we have, and in fact, that’s contractually certain.”Disney currently owns 67% of Hulu with with Comcast’s NBCUniversal holding a minority stake.

Florida’s “Don’t Say Gay” bill and the lawsuit brought by Scarlett Johansson over her share of “Black Widow” streaming revenue. Daniel, formerly Disney’s Film and TV Distribution Head, left shortly after Iger’s return.

To paraphrase Neil Young, Bob Chapek is gone from Disney but not forgotten.

The Information to discuss her current startup venture, Sunshine, the former Yahoo CEO touched on the artificial intelligence elephant in the room, mentioning that upping AI integration is on the startup’s to-do list. “We aspire to have more AI involved, but we also want to make sure we produce a product that’s reliable,” Mayer said.

Chris Willman Senior Music Writer and Chief Music Critic Country star Jimmie Allen’s label, BBR Music Group, has suspended him, following a lawsuit from an ex-manager alleging that he sexually assaulted her over a period of a year and a half working with him, and an investigative story in Variety expanding on the woman’s allegations. “In light of today’s allegations against Jimmie Allen, BBR Music Group has decided to suspend all activity with him, effective immediately,” said a statement from the label. Other action has been swift. Allen has been dropped as the commencement speaker for tomorrow’s Delaware State University’s 2023 graduation. A press release from the university said that Allen, a Delaware native, had been replaced as commencement speaker by congresswoman Lisa Blunt Rochester.

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.

The gloves are off, when it comes to the ongoing brouhaha between Disney CEO Bob Iger and Florida Governor Ron DeSantis, which has reached a crescendo with Disney suing the governor last month and the governor suing back. “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 as taking that position, we are merely exercising our right to free speech.