Deepika Padukone beats Big B, invites 15 million Facebook fans for live chat

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.

New Delhi, Apr 7: Actor Disha Patani on Tuesday extended her warm wishes to legendary martial artist and actor Jackie Chan on his birthday.

The 'Baaghi 2' took to Instagram to share a throwback picture of herself with the Hong Kong-based actor and reminisced the times when she got the opportunity to work with him.

"Happiest b'day taguuu this was the first time I met you, I remember being so nervous but It turned out to be the best day of my life, getting an opportunity to work with my "superhero" is the best thing that has ever happened to me," she wrote in the caption.

"You teach people to be giving, loving and hardworking, thank you for blessing the world with your unreal performances and the most unforgettable life risking action sequences. Nobody can ever be "jackie chan" love you the most @jackiechan," she added.

Disha Patani and Jackie Chan worked together in a Chinese adventure comic film 'Kung Fu Yoga'.

The film was released worldwide in 2017 and it later became the highest-grossing film of Jackie Chan in China.

Besides Disha, the film also had two other Bollywood actors - Sonu Sood and Amyra Dastur.

Jackie Chan turned 66 today. He was many laurels to his name including the prestigious Oscar Award which was handed over to him in 2016 for his extraordinary achievements in the cinema industry.

New Delhi, Apr 23: As the holy month of Ramzan is about to begin, several Muslim public figures on Thursday appealed to the community to offer tarawih and hold iftar inside their homes and follow the lockdown regulations imposed to tackle the coronavirus threat.

Television actor Iqbal Khan in a video message appealed to the people to not step out of their houses during Ramzan.

"This time around, whatever you do during Ramzan, you have to do it inside your houses. Do not visit mosques; offer tarawih (late evening prayers offered during Ramzan) at your homes. Your stepping outside will not only put you in a problem but may put your family members in trouble also," said Khan.

"And that will be wrong, do not go outside. If anyone says you have to go outside then they are wrong. Stay home and stay safe and help others stay safe too," he added.

Another TV actor and Tik Tok star Jannat Zubair asked people to avoid any kind of social gatherings so as to ensure the safety of everyone.

"I know we are in a difficult situation but there is no need to panic. We will overcome this and things will be fine. The holy month of Ramzan is going to start, please stay home, offer prayers at your homes and avoid family/friends gatherings for now. It is just a matter of time, things will be fine soon. Stay home and stay safe," she said.
Ramzan is likely to begin from April 24.