Disney CEO Bob Iger came back to save the struggling entertainment giant and delivered some bad news for Joy Behar and other co-hosts of The View during a recent interview.
Speaking with David Faber on the network’s “Squawk Box” program, Iger discussed the “transformative” work he has begun at Disney and what it means for ABC stars like Behar.
Iger said: “Transformative work is dealing with businesses that are no growth businesses and what to do about them, and particularly the linear business, which we are expansive in our thinking about.
“And we’re going to look expansively about opportunities there because clearly, it’s a business that is going to continue to struggle.”
Faber then asked Iger if by ‘transformative’ he meant getting rid of networks like ABC and FX: “Are you going to look to sell them?”
“We have to be open-minded and objective about the future of those businesses, yes,” Iger replied.
“Meaning that they’re not core to Disney?” Faber asked.
“That they may not be core to Disney,” Iger added.
“The distribution model, the business model that forms the underpinning of that business and that is delivered great profits over the years, is broken.
“And we have to call it like it is.”
Iger revealed plans to lay off 7,000 workers in a “strategic realignment” earlier.
“For our employees who aren’t impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward.
“In tough moments, we must always do what is required to ensure Disney can continue delivering exceptional entertainment to audiences and guests around the world, now, and long into the future.”