Superstar Rajini turns 67, wishes pour in

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.

London, Jul 4: Hollywood star Chris Hemsworth says he is really excited about the biopic on WWE legend Hulk Hogan, which is currently in development.

"The Thor" actor revealed that he will bulk up his physique for the much-anticipated film to be directed by “Joker” helmer Todd Phillips.

“This movie is going to be a really fun project. As you can imagine, the preparation for the role will be insanely physical. I will have to put on more size than I ever have before, even more than I put on for Thor.

''And then there is the accent as well as the physicality and the attitude. I will also have to do a deep dive into the rabbit hole of the wrestling world, which I'm really looking forward to doing,” Hemsworth told British magazine Total Film.

The project was announced last year, with “8 Mile” scribe Scott Silver and John Pollono attached to pen the script.

It is expected to look into Hogan's rise from the Florida wrestling circuit to becoming the face of the World Wrestling Federation in the 1980s where he squared off with villain Andre the Giant.

The 36-year-old actor, however, said that the team is still “quite a way away” from starting production on the film.

“'I haven't even seen a script yet. The project is deep in development. Todd Phillips and I met to chat about it maybe a year or two ago. We talked about the idea for the film, which I think was going to be a TV series at one point.

''There were a few different ideas about what portion of his life it was going to be set in, so we spitballed about what it could be and what I thought it might be. Thankfully, they ran with a few of those ideas and the script is in the process of being written - but Hulk Hogan is still quite a way away.''

The biopic will be produced by Michael Sugar through his Sugar23's first-look Netflix deal along with Joint Efforts' Phillips and Bradley Cooper, Eric Bischoff, and Hemsworth.

Hogan will also serve as executive producer along with Sugar23's Ashley Zalta. Steve Desmond and Michael Sherman will serve as co-producers.

Bihar, Mar 5: A complaint has been filed before a court in Bihar against lyricist Javed Akhtar over his remarks on the FIRs being registered against expelled AAP councillor Tahir Hussain in the wake of Delhi riots.

The complaint was lodged on Wednesday by Amit Kumar, a local advocate, before the court of Chief Judicial Magistrate Thakur Aman Kumar.

On the basis of a newspaper report, the complainant has alleged that Akhtar's remarks were seditious and promoted religious hatred.

The media report was based on Akhtar's tweet of February 27 that "So many killed, so many injured, so many houses burned, so many shops looted so many people turned destitute but police has sealed only one house and looking for his owner. Incidentally, his name is Tahir. Hats off to the consistency of the Delhi police."

The violence in northeast Delhi claimed at least 42 lives and left over 200 injured. The former Rajya Sabha member was heavily trolled for the tweet.

In a subsequent tweet, Akhtar who asserted that he is a non-believer and a rationalist, had clarified that he was not asking "why Tahir but why ONLY Tahir and not even an FIR against those who have openly threatened violence in the presence of the police".

The matter is likely to come up for hearing on March 25.