Parineeti Chopra becomes first Indian woman ambassador for Australia tourism

New York, Feb 26: Disney CEO Bob Iger, who steered the company’s absorption of Star Wars, Pixar, Marvel and Fox’s entertainment businesses and the launch of a Netflix challenger, is stepping down immediately, the company said in a surprise announcement Tuesday.

The Walt Disney Co. named as his replacement Bob Chapek, most recently chairman of Disney’s parks, experiences and products business.

“Did not see this coming -- Wowza,” tweeted LightShed media analyst Rich Greenfield.

Iger will remain executive chairman through the end of his contract on Dec. 31, 2021. Besides leading the board, Iger said he will spend more time on Disney’s creative endeavors, including the ESPN sports network, the newly acquired Fox studios and the Hulu and Disney Plus streaming services. He said he could not do that while running Disney on a day-to-day basis.

“It was not accelerated for any particular reason other than I felt the need was now to make this change,” Iger said on a conference call with reporters and analysts.

Iger steered Disney through the successful purchases of Lucasfilms, Marvel, Pixar and other brands that became big moneymakers for Disney. Last year, the top five movies in U.S. and Canada theaters were all Disney movies, including two from Marvel and one from Pixar. With the Dec. 20 release of the latest “Star Wars” movie, Disney had seven movies that each sold at least $1 billion in tickets worldwide last year.

Iger’s most recent coup was orchestrating a $71 billion purchase of Fox’s entertainment business in March and launching the Disney Plus streaming service in November. That service got nearly 29 million paid subscribers in less than three months. In a statement, Iger said it was the “optimal time” for a transition.

Pivotal Research Group analyst Jeffrey Wlodarczak said Iger had implied he would stay until his contract ended in 2021.

“On the other hand, they just successfully closed the Fox deal and had an unquestionably successful launch of Disney Plus so maybe he felt earlier was better to hand off the reins,” he said.

Colin Gillis, director of research at Chatham Road Partners, said the choice of Chapek seems solid because his parks division has had success.

Chapek said that while he has not led television networks or streaming services, his background in consumer-oriented businesses should help. Chapek and Iger both stressed that Disney would continue on the direction it had already been taking.

Disney is facing challenges to its traditional media business as cord-cutting picks up, meaning less fees from cable and satellite companies to carry Disney networks such as ABC, ESPN and Freeform. Disney’s own streaming services require the company to forgo money in licensing revenue, although the company is betting that money from subscriptions will eventually make up for that.

In the short term, Disney parks in Hong Kong and Shanghai, China, remain closed because of the coronavirus outbreak. In a CNBC interview, Chapek said the outbreak may be a “bump in the road,” but he said the company could weather it given “affinity for the brand.”

Iger told CNBC he had no plans to stay with Disney beyond next year.

Iger’s appointment as CEO in 2005 had been accompanied by controversy and protest from dissident shareholders Roy E. Disney and Stanley Gold. But he has come to be seen as a golden-boy top executive, and even someone who could run for president.

Iger told Vogue in 2018 that he had started seriously exploring a run for president because he is “horrified at the state of politics in America today,” but the Fox deal stopped his plans. Oprah Winfrey told Vogue that she “really, really pushed him to run.”

Iger, a former weatherman, joined ABC in 1974, 22 years before Disney bought the network.

At ABC, Iger developed such successful programs as “Home Improvement,” “The Drew Carey Show,” and “America’s Funniest Home Videos” and was instrumental in launching the quiz show “Who Wants to Be a Millionaire.” He was also criticized for cancelling well-regarded but expensive shows such as “Twin Peaks” and “thirtysomething.”

Since Iger became CEO, Disney’s stock price has risen fivefold. Its stock fell more than 2% in extended trading following the announcement, on top of a broader market selloff on virus fears during regular trading.

Iger, 69, was the second-highest paid CEO in 2018, as calculated by The Associated Press and Equilar, an executive data firm. He earned $65.6 million. The top earner was Discovery’s David Zaslav who earned $129.5 million.

Susan Arnold, the independent lead director of the Disney board, said succession planning had been ongoing for several years.

Chapek, 60, is only the seventh CEO in Disney history. Chapek was head of the parks, experiences and products division since it was created in 2018. He was previously head of parks and resorts and before that president of consumer products.

A gang has been spreading rumours about me in the Hindi film industry that is preventing him from getting work, says Academy award-winning music director A R Rahman.

Collaborations between him and the Hindi film industry have reduced as a result, he adds

The maestro had composed music for Sushant Singh Rajput's Dil Bechara said that the reason he is not doing a lot of work is that a gang has been spreading rumours about him which resulted in him getting fewer projects.

Rahman's comments come amidst a raging insider versus outsider debate in Bollywood following actor Sushant Singh Rajput's untimely demise last month.

During an interview with Radio Mirchi, the Oscar-winning music director was asked the reason for doing less Hindi films.

Rahman said there has been "misunderstanding" between him and filmmakers as some people have been spreading "false rumours" about him in the industry.

"See, I don’t say no to good movies, but I think there is a gang, which, due to misunderstandings, is spreading some false rumours. So when Mukesh Chhabra came to me, I gave him four songs in two days. He said, 'Sir, how many people said don’t go, don’t go (to him). They told me stories after stories'," he said.

"I heard that, and I said, 'yeah okay, now I understand why I am doing less (work) and why the good movies are not coming to me.' I am doing dark movies, because there is a whole gang working against me, without them knowing that they are doing harm," the composer added.

Rahman has composed the music for Rajput's last movie "Dil Bechara", which premiered on Disney+ Hotstar on Friday. The film, directed by Mukesh Chhabra, also features Sanjana Sanghi and Saif Ali Khan.

The composer further said that he is aware of people's expectations from him but the "gang" is getting in his way.

"People are expecting me to do stuff, but there is another gang of people preventing that from happening. It is fine because I believe in destiny. I believe that everything comes from God.

"So, I am taking my own movies and doing my other stuff. But all of you are welcome to come to me. You make beautiful movies, and you are welcome to come to me," Rahman added.

Dubbed ‘Mozart of Madras’, A R Rahman has composed soundtracks for movies like Swades, Dil Se, Guru, Rockstar and more recently Sushant Singh Rajput’s Dil Bechara. 

The composer won two Academy Awards in 2009 for his songs in the popular Hollywood movie, Slumdog Millionaire. The composer also received a Golden Globes Award for his work in this movie.

Los Angeles, Apr 8: American folk legend John Prine has passed away due to the coronavirus complications. He was 73.

Prine, whose coronavirus diagnosis was revealed on March 17, died on Tuesday, his publicist told Variety.

His wife and manager, Fiona, had on April 3 posted on Twitter that Prine was severely ill after being admitted into intensive care unit of a hospital.

In a career spanning over half a century, Prine churned out heartfelt and unforgettable songs like Angel From Montgomery, Sweet Revenge and In Spite of Ourselves .

He was regarded as one of the greatest by many of his peers including Bob Dylan, Johnny Cash, Bruce Springsteen, Bette Midler and many other music legends.

Born on October 10, 1946 in Maywood, Illinois, the singer-songwritter emerged on the Chicago folk scene in the late 1960s, when he was discovered by country star Kris Kristofferson.

He is still remembered for his 1971 anti-war track Your Flag Decal Won't Get You Into Heaven Anymore , which came at the height of the Vietnam War and is still relevant to many till date.

In recent years, he had taken a step back from music but came back in 2018 with the album The Tree of Forgiveness . It was his first LP in 13 years.

Prine was a winner of two Grammy award for best contemporary folk albums -- The Missing Years (1991) and Fair & Square (2005). He was an inductee of the Songwriters Hall of Fame and also bestowed with Grammy Lifetime Achievement Award.

The news of his demise sent shockwaves across the music industry, with stars like Bruce Springsteen, Kacey Musgraves, Bonnie Raitt, Bette Midler and others paying their tributes to the legend.

Over here on E Street, we are crushed by the loss of John Prine. John and I were "New Dylans" together in the early 70s and he was never anything but the lovliest guy in the world. A true national treasure and a songwriter for the ages. We send our love and prayers to his family, Springsteen wrote in a post on Twitter.

While Musgraves posted, Heartbroken.

Raitt, who recorded Angel from Montgomery in the 1970s, said he is feeling crushed after learning about Prine's demise.

Words can't even come close. I'm crushed by the loss of my dear friend, John. My heart and love go out to Fiona and all the family. For all of us whose hearts are breaking, we will keep singing his songs and holding him near, he wrote.

Midler shared a news link about Prine, saying, He's gone.