Disney is planning to evaluate options for its declining television business.
Disney is ready to start building its business again after a year of restructuring due to changes in the industry caused by streaming.
The company is on track to exceed the $5 billion in cost savings it promised investors in February.
The town hall meeting took place amidst pressure from activist investor Nelson Peltz, who is planning a new board challenge at Walt Disney.
Disney CEO Bob Iger recently announced that the company is ready to start building its business again after a year of restructuring due to changes in the industry caused by streaming. The announcement was made at a company-wide town hall where Iger was joined by the leaders of the company's business segments, including Disney Entertainment co-chairmen Alan Bergman and Dana Walden, ESPN Chair Jimmy Pitaro, and parks chief Josh D'Amaro.
The company is on track to exceed the $5 billion in cost savings it promised investors in February. The town hall meeting took place amidst pressure from activist investor Nelson Peltz, who is planning a new board challenge at Walt Disney. Iger also discussed the company's plans to evaluate options for its declining television business.
The restructuring and rebuilding of Disney's business come as a response to the challenges posed by the rise of streaming services, which have significantly altered the landscape of the entertainment industry. The company's readiness to rebuild signifies a positive outlook for its future growth and stability.