Cinema is a truly shared wealth: Tina Ambani, patron, Mumbai Academy of Moving Image

Mumbai, Jul 8: Veteran Actor-comedian Jagdeep, best known for his role as Soorma Bhopali in "Sholay", died on Wednesday at his residence. He was 81.

The actor, whose real name is Syed Ishtiaq Ahmed Jafri, was not keeping well. "He passed away at 8: 30 pm at his residence in Bandra. He was not keeping well due to age related issues," producer Mehmood Ali, a close family friend, told news agency.

Jagdeep appeared in around 400 films but it is his role as Soorma Bhopali in 1975 film "Sholay" that is etched in audiences' minds even today. He also played memorable roles in "Purana Mandir" and in "Andaz Apna Apna" as Salman Khan's father.

Better known by his stage name Jagdeep, the actor also directed the movie "Soorma Bhopali" with his character as the protagonist. He is survived by two sons - Javed and Naved.

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, April 4: Extending a helping hand to curb the spread of coronavirus, superstar Shah Rukh Khan and wife Gauri Khan have offered their personal office space in Mumbai for quarantine purpose for children, elderly and women.

The information was tweeted by the official Twitter handle of BMC (Brihanmumbai Municipal Corporation) on Saturday that thanked the couple for the gesture.

"Stronger together. We thank Shah Rukh Khan and Gauri Khan for offering their 4-storey personal office space to help expand our quarantine capacity equipped with essentials for quarantined children, women and elderly, Indeed a thoughtful and timely gesture!" the tweet read.

Earlier the 54-year-old superstar and his group companies had pledged to donate to a number of relief funds, including the Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM-CARES) fund and the Maharashtra Chief Minister's Relief Fund to combat the coronavirus.

The 'Devdas' actor had taken to Twitter on Thursday and shared that his companies -- Kolkata Knight Riders, Red Chillies Entertainment, Meer Foundation, and Red Chillies VFX -- are taking several initiatives to support the relief efforts.

The Padma Shri awardee also announced that his initial efforts will be focused on three cities -- Mumbai, Kolkata and New Delhi, "with the realisation that this is a start and we stand ready to contribute in whichever way possible going forward".

Meanwhile, India's tally of coronavirus positive cases rose to 2,902, said the Ministry of Health and Family Welfare on Saturday.

Out of 2,902 cases, 2,650 are active cases and 184 have been cured or discharged or have migrated. The total number of deaths reported due to the disease rose to 68 on Saturday.