All is not well in the House of Mouse.
According to a recent CNN report, the magic is gone for Disney investors. The stock is down nearly 10% in the last month and dropped 5% on Wednesday. Critics of Bob Chapek, whose contract is up in under two yers, say he should be worried. There’s also rumblings of a Bob Iger return.
“Chapek’s flip-flop [on the Parental Rights Bill] has drawn heat from critics on both the left and right. A letter from Pixar employees slammed Disney’s ‘hollow’ claims of support while some corporate workers staged a walkout, among other dustups. Meanwhile, Florida lawmakers approved a bill on Wednesday to strip Disney World of its special self-governing status over its public opposition to the ‘Don’t Say Gay’ law,” The New York Post reports.
“I don’t think this would have happened under Iger,” said a source who has worked for both men. “Disney now finds itself in the middle of a culture war and it shouldn’t have been there.”
“Chapek’s contract is up in a year and a half,” another Hollywood executive added. “I’d be worried.”
“If Iger knew it was temporary, just to get things on an even keel, it wouldn’t shock me if he returned,” a source close to Iger said.
Read the full story over at The New York Post:
— Alexandra Steigrad (@AlexSteigrad) April 20, 2022