Comedian Joan Rivers Dies at 81

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.

Hollywood star Angelina Jolie feels discrimination and impunity cannot be justified in any way, and says she hopes people in the US can come together to "address the deep structural wrongs in our society".

The Oscar-winning star, who turned 45 on Thursday, also donated $200,000 to the NAACP Legal Defense Fund, reports people.com.

"Rights don't belong to any one group to give to another. Discrimination and impunity cannot be tolerated, explained away or justified. I hope we can come together as Americans to address the deep structural wrongs in our society," Jolie said.

"I stand with the NAACP Legal Defense Fund in their fight for racial equality, social justice, and their call for urgent legislative reform," she added.

Meanwhile, the actress celebrated her birthday amid lockdown with her six children -- Maddox, 18, Pax, 16, Zahara, 15, Shiloh, 14, and 11-year-old twins Knox and Vivienne.

The actress and activist has been active since the COVID-19 pandemic spread around the world and has donated to different organisations.

Jolie previously donated $1 million to No Kid Hungry, the organisation working to feed children during the COVID-19 pandemic.

"I knew that there were problems in America, that there was poverty, but I could not believe when I realised how many school children in America were dependent on a meal to not go hungry. I was so disgusted that we have gotten to this point as a country and that we would let the most vulnerable be in such a state. I can't imagine what it feels like for those parents," she said while opening up about her reason to get associated with the organisation.

Mumbai, Jun 16: Director Abhinav Singh Kashyap appealed to the government to launch a detailed investigation into the demise of actor Sushant Singh Rajput and shared a hard hitting Facebook post about his own experience of bullying in the Bollywood industry.

The 'Dabangg' director wrote, "My experience is no different. I have experienced exploitation and bullying first hand."

He further said, "Arbaaz Khan on Dabangg and ever since. So here is my story 10 years after Dabangg. The reason I moved out of making Dabangg 2 ten years ago is that Arbaaz Khan in collusion with Sohail Khan and family was trying to take control of my career by bullying me. because Arbaaz Khan sabotaged my second project with Shree Ashtavinayak Films that I was signed up with by personally calling their head Mr. Raj Mehta and threatening him with dire consequences if they made a film with me. I had to return the signing money to Shree Ashtavinayak films and moved to Viacom Pictures. They did the same thing. Only this time the sabotager was Sohail Khan and he intimidated the then Viacom CEO Vikram Malhotra. My project was sabotaged and I was made to return my signing fee of Rupees 7 Crores plus interest of Ninety odd lacs. Its only then that Reliance Entertainment came to my rescue and we forged an enduring partnership for my film Besharam."

The 'Yuva' director added, "But to behold... Mr Salman Khan and family sabotaged the release of the film and got their PROs to run a sustained negative smear campaign against me and my film Besharam before release. This scared the distributors from buying my film. Reliance Entertainment and I were capable and courageous enough to release the film ourselves but the battle had just begun. My enemies, which there were many ran a sustained negative Trolling and badmouthing campaign against the film till the Box Office of my film collapsed. But to their horror, Besharam had still netted 58 crores before it went out of theatres."

"So they fought on... They sabotaged the Satellite release of the film that was pre-sold to Mr Jayanti Lal Gada who was the main agregator for Zee Telefilms those days. With Reliance's goodwill, they were able to re-negotiate the satellite rights sale with Gada for a much lesser price," he further said.

Talking about his projects and how they were affected, Kashyap added, "Over the next few years, all my projects and creative endeavours have been sabotaged and I have been repeatedly threatened with life and rape threats given to/for the female members of my family. The sustained gaslighting and bullying destroyed my mental health and that of my family and led to my divorce and breaking up of my family in 2017. They erred and sent some of these threats as texts, sent to me as sms from several numbers. Armed with evidence, I went to the police in 2017 to file an FIR which they refused to register but registered a non-cognizable complaint. When the threats continued, I forced the police to trace the numbers but they couldn't be traced back to Sohail Khan (the suspected sender). My complaint remains open to date and I still have all the evidence."

The director further wrote, "My enemies are sharp, cunning and always attack me from the back and stay Hidden. But the best part is after 10 Arbaaz Khan and Sohail Khan years, I know who my enemies are. Let it be known that they are Salim Khan, Salman Khan, Arbaaz Khan and Sohail Khan for. There are many other small fry's but Salman Khan family is the head of this venomous serpent. They use a clever mix of their ill-gotten money, political clout and connections with the underworld to intimidate anyone and everyone. Unfortunately truth is on my side and I am not going to give up like Sushant Singh Rajput. I refuse to cow down and will fight on till I see the end of either them or me. Enough tolerance. It's time to fight back."

The 'Dabangg' director wrote, "The suicide of Sushant Singh Rajput brings to the forefront a much bigger problem of what many of us have been dealing with. Exactly what might compel a person to commit suicide?? I fear his death is just the tip of the iceberg just like the #metoo movement was for a much bigger malaise in Bollywood."

Kashyap also made allegations that talent management agencies ruin the career and life of an actor, "The death of Sushant Singh Rajput brings under scanner the role YRF talent Management Agency might have played in pushing him towards his suicide but that is for the authorities to investigate. These people don't make careers. They ruin your career and life. Having suffered personally for a decade, I can confidently say every Talent Manager and all Talent Management Agencies of Bollywood are a potential death Trap for Artists. They are all basically white collared Dalaals and everyone is involved. They all have an unspoken code of conduct they adhere to. Their one simple mantra is, 'Hamaam me sab nange aur jo nange nahin hain, unko nanga karo kyonki agar ek bhi pakda gaya to sab pakde jayenge'. Following is mostly their modus Operandi'."

The director shared how the agencies find talented people and get them to sign a contract, "First the talent scout (Casting Directors, etc.) working on a cut/commission spots a needy wild talent from out of Mumbai with little connections or property. The talent is then lured with free invites to Bollywood parties and random Restaurant launches on the pretext of introducing them to celebrities. The Blinding glamour of celebs and lure of easy money is unleashed on the unsuspecting. Mind you they are all ignored and treated very badly at these parties so they feel demoralized and their self-confidence breaks."

He added, "Once the confidence is broken, the scouts offer them a multi-year exclusivity contracts and pressure them to sign-up for it by promising to protect them from predators or offering a pittance. Mind you, breaking these legal contracts means heavy penalties for these budding talents but the scout makes sure through bullying and coercion that there is very little option for the talent but to sign up. Once the talent is signed up with the Talent management agency, they give up their right to exercise free choice and their discretion in any matter concerning career and they are made to work as bonded labor with very little money. Even if they are brave and manage to escape the clutches of their Talent Management agency somehow, they are systematically boycotted and their name smeared till they jump ship to another Agency in the hope of a better tomorrow."

Talking further about the struggle of an actor, Kashyap said, "But that tomorrow never comes. Their new agency turns out to be the same. Over a period of few years, mostly the prime of any actor, the talent is repeatedly broken till they either commit suicide or they succumb to Prostitution and escort services (Yes male escorts also) to feed the ego and sexual appetite of the rich and powerful, not just in Bollywood but also in Corporate world and politics."

He concluded by writing, "So this is not a threat, it's an open challenge. Sushant Singh Rajput has moved on and I hope he is happier wherever he is but I will make sure that no more innocent will kill himself over lack of work with dignity in Bollywood. I hope suffering actors and creative artists will share my post on various social media platforms as will the media and people who patronize the entertainment industry."