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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.

Los Angeles, May 24: Filmmaker Frank Marshall, one of the producers behind Jurassic World: Dominion, says the forthcoming film is not a conclusion of the franchise.

Colin Trevorrow, who rebooted Steven Spielberg's blockbuster Jurassic Park franchise with 2015's Jurassic World, is back on the director's chair after sitting out on second movie Jurassic World: Fallen Kingdom (2018).

Asked about the upcoming movie, Marshall told Collider: "It's the start of a new era."

Chris Pratt and Bryce Dallas Howard are coming back for the third film, which will also feature original stars of 1993's Jurassic Park -- Laura Dern, Jeff Goldblum and Sam Neill.

The producer also revealed how he sees the film franchise extending into the future.

"The dinosaurs are now on the mainland amongst us, and they will be for quite some time, I hope," Marshall said.

The film was three weeks into production when it was shut down over coronavirus concerns, but the producer said the team has the sets built in London and will be "back in business" once they have guidelines from the British government.

Dominion is still slated to be released on its scheduled date of June 11, 2021.

Washington, Jul 26: Regis Philbin, the iconic television personality best-known for his hosting duties on 'Live!' with co-hosts Kathie Lee Gifford and Kelly Ripa, and 'Who Wants to Be a Millionaire,' has died. The beloved star was 88.

According to People Magazine, the longtime television host died on July 24. His family shared a statement on Saturday, "We are deeply saddened to share that our beloved Regis Philbin passed away last night of natural causes, one month shy of his 89th birthday,"
"His family and friends are forever grateful for the time we got to spend with him - for his warmth, his legendary sense of humour, and his singular ability to make every day into something worth talking about. 

We thank his fans and admirers for their incredible support over his 60-year career and ask for privacy as we mourn his loss," the Philbin family says.

Philbin began his iconic career in 1988, as the host of 'Live! with Regis and Kathie Lee' alongside TV presenter Kathie Lee Gifford. After 15 years, Gifford left the ABC show but the pair remained close after her departure.

In 2001, the franchise became 'Live! with Regis and Kelly', co-starring Kelly Ripa before he left in 2011 after 23 years on-air.

From 1999 to 2002, Philbin also served as the original host of the widely popular game show 'Who Wants to Be a Millionaire.' In addition, the New York City native's hosting credits include 'Million Dollar Password', the first season of 'America's Got Talent', as well as a reoccurring co-host seat on 'Rachael Ray'.

Born on August 25, 1931, Philbin was raised in the Bronx and graduated from Cardinal Hayes High School in 1949 before attending the University of Notre Dame, where he earned a sociology degree in 1953.

After serving in the Navy, Philbin began his career in show business as a writer and made his way in front of the camera in 1961 with a local talk show in San Diego called 'The Regis Philbin Show'. Then in 1967, he became widely known as Joey Bishop's sidekick on 'The Joey Bishop Show'.

After a string of local talk shows, including 'A.M. Los Angeles' and 'Regis Philbin's Saturday Night in St. Louis', the star moved to New York in 1983 to host 'The Morning Show', which was renamed three years later as 'Live! with Regis and Kathie Lee'.

His accolades include Daytime Emmy Awards for outstanding talk show host for 'Live!' in 2001 and 2011 as well as an outstanding game show host for 'Who Wants to Be a Millionaire'. He also received a Hollywood Walk of Fame in 2003 and a Lifetime Achievement Award from the Daytime Emmy Awards in 2008.

Throughout his career, Philbin had various health issues. He underwent an angioplasty in 1993, followed by triple bypass surgery due to plaque in his arteries in March 2007. In December 2009, the television personality had his hip replaced.

Married twice, Philbin is survived by daughters J.J. Philbin and Joanna Philbin, whom he shared with his wife of 50 years, Joy Philbin. He was also father to daughter Amy Philbin, whom he shared with his first wife Catherine Faylen. Philbin and Faylen had another child, son Daniel Philbin, who died in 2014.