Why Disney CEO Bob Iger Stepping Down Is A HUGE Story
Quite possibly Iger's most significant move was overseeing the acquisition of 21st Century Fox. You see, for nearly 100 years, Fox was one of the "Big Six", the most powerful studios in Hollywood. The other five were/are Warner Bros, Universal, Paramount, Disney, and Sony/Columbia. The fact that one of the six absorbed another -- a historic, storied company with roots in the earliest days of Hollywood -- is monumental.
While there have been a variety of reactions to it -- ranging from fears of corporate monopolization and creative hegemony, to salivation and excitement at the prospect of the X-Men and the Fantastic Four joining the MCU -- it is indisputable just how powerful this move made Disney.
What of the future? Disney has found his replacement in Bob Chapek, a 23-year veteran of Disney and current chairman of the company's Parks, Experiences, and Products wing. Iger will in fact remain on board as Executive Chairman, spearheading Disney's creative plans and leading the board until his contract expires in December 2021.