'PK' becomes Bollywood's highest grossing film, earns 278.52 in two weeks

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.

Jan 8: Bollywood star Deepika Padukone on Tuesday visited the Jawaharlal Nehru University (JNU) to express solidarity with the students who were attacked by a mob, but she did not address the crowd.

The actor reached the university campus at around 7.40 pm and attended a public meeting, called by JNU Teacher's Association and JNUSU in response to Sunday's attack on students and teachers by a masked mob armed with sticks and rods.

Deepika stood as former JNUSU president Kanhaiya Kumar was raising azaadi slogans and left by the time current president Aishe Ghosh started speaking.

The actor's decision to not address the crowd prompted Ghosh to comment, "when you are in a position, you should speak up".

"There are many people in Bollywood who do not put forth their views when they are not be aired. They are considered role models. I appeal to them: Make inspiring films after something has happened but when you are in that position, also talk about the story that is currently happening," she said.

Later, Ghosh said that Deepika expressed solidarity with the JNU students.

Deepika is in the capital to promote her upcoming release, Meghna Gulzar-directed "Chhapaak".

On Monday, the 34-year-old actor told a news channel that she feels proud that people have come out and raised their voice without fear, in reference to the protests against the amended Citizenship Act, the National Register of Citizens and violence in JNU.

"I feel proud to see that we aren't scared to express ourselves... I think the fact that we are thinking about the country and its future.... Whatever may be our point of view, it's nice to see," Deepika told NDTV India.

"I feel proud about it that people are coming out -- be it on the streets or wherever they are -- they are raising their voice and expressing themselves as it is important. If we want to see a change in life and society, it is important that a point of view be put forward," she added.

New Delhi, Apr 16: Actor Salman Khan on Thursday put out a sharp message to the "jokers" who were flouting government-imposed guidelines and venturing out during the ongoing lockdown, putting at risk countless lives to the deadly coronavirus.

In his characteristic 'Bhai' style, Salman also appealed to people to not attack doctors, nurses and police personnel who are in the frontline of the battle against COVID-19.

In a 10-minute hard hitting video shared on Instagram he begins with a "Hello, namaste, salaam, sasriyakaal, Kem Cho' in typical TV reality show 'Big Boss' style and goes on to say 'Zindagi ka Bigg Boss' has begun with the entire country staying in lockdown mode at home.
He said he had taken a two-day "chhutti" (leave) but "This corona, COVID-19 has given everyone a 'chutti'."

Khan said he was staying at his farmhouse in Panvel near Mumbai with his family including his mother, two sisters their children and some other people who had come to visit.

In the video he said that he had sent a friend to get rations for the family from a village around five kilometres away. He recounted that the police stopped him and in the process, his friend took off the mask to speak to the policeman who reprimanded him and asked him to put the mask back on. Salman said that he too chided his friend for doing such a thing.

"Don't go out, don't do social gatherings, stay with your family, the government has said if you are doing namaaz, do it at home, do pooja at home..." the actor said, adding that those who had a wish to kill their families should step out.
"Go out get your ration, nobody is stopping you, go nearby but wear your masks, your gloves, go alone," the actor said underlining that the government has assured that everybody will get ration.

The actor said that whoever does not understand a coronavirus positive patient's pain is anti-human.

He pointed out that doctors, nurses and policemen are putting in long hours to curb the spread of coronavirus and urged people to respect their work and stay inside.

The actor said policemen would not have taken action and hit people if they followed guidelines and stayed inside. "If you weren't going out with friends, police wouldn't have hit you. Do you think police are enjoying it?," he asked.

"Doctors and nurses are working to save your lives and what do you do? You started pelting stones at them? Those who have been diagnosed with coronavirus, are running away from the hospitals. Where are you running? Towards life or death?," he questioned in his video.

The 'Dabangg 2' star appreciated the efforts by the frontline warriors and said, "the virus that started in China is over in China now, but because of a few jokers, the whole of India will sit at home for a long time."

The 54-year-old star said that he was aware of many people who wouldn't come out of their homes earlier but have started doing so since they've been asked to not go out.

"You are putting everyone's lives at risk," the Bajrangi Bhaijaan actor said.

Salman concluded by urging people to respect the work of the doctors, nurses, police personnel and those who work in banks, take care to ensure that the disease does not spread further and pray that it does not come to a situation where the military has to be called in to stop people from doing the wrong thing.

Filmmaker Vivek Ranjan Agnihotri took to Twitter to shared the video message. "Very well said @BeingSalmanKhan I hope wisdom prevails everywhere," he tweeted.