Disney’s Iger downplays asset sale, stresses building
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 29 November 2023
⏱️ 7 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Wednesday, November 29th. I'm Julie Morgan. |
| 0:12.7 | Disney's Bob Eiger is focused on building. |
| 0:15.8 | Mark Cuban is reportedly selling his majority's stake |
| 0:19.0 | in the Dallas Mavericks, |
| 0:20.6 | and the days of Farfetch on the New York Stock Exchange may be numbered. |
| 0:25.0 | Disney CEO Bob Eiger told staff that next year will be about building a modern version of the company |
| 0:32.0 | and said no decisions were made regarding major asset sales. |
| 0:36.4 | Eiger downplayed his earlier comments on potential asset sales. |
| 0:40.4 | He said he likes to run things up flagpoles to see how they'll fly. |
| 0:44.0 | He told ABC News anchor David Muir at the company wide town hall that he didn't think everyone would run with the story that everything is being sold which is not the case. |
| 0:54.8 | Iger retook the helm of Disney last year and began an overhaul at the company |
| 0:59.6 | through cost cuts, layoffs and prioritizing streaming profitability. |
| 1:04.2 | Disney is targeting to save $7.5 billion this year. |
| 1:08.4 | He said he spent the last year with the team fixing a lot of things, |
| 1:12.1 | and he also added that there were more challenges than he expected. |
| 1:16.0 | But he said the company has emerged from a period of a lot of fixing to one of building again. |
| 1:21.0 | Disney's stock has struggled to hold on to gain since Iger's return, |
| 1:26.3 | declining 3.3% over the past year. |
| 1:30.5 | Miriam Adelson, the widow of Casino Magnet Sheldon Adelson, is selling $2 billion of shares in Las Vegas |
| 1:37.9 | Sands so she can buy a majority stake in the Dallas Mavericks NBA team. She's reportedly buying the stake from Mark |
| 1:45.2 | Cuban who was a tech billionaire known for his role on ABC's Shark Tank, a show about |
... |
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