When CEO Bob Iger fails to reassure Wall Street about his plans for Disney’s traditional TV operations, Nelson Peltz seizes the chance to launch a fresh attack on the Magic Kingdom. And this time, he won’t back down. Be the first to know about Wondery’s newest podcasts, curated recommendations, and more! Sign up now at https://wondery.fm/wonderynewsletter Listen to Business Wars on the Wondery App or wherever you get your podcasts. Experience all episodes ad-free and be the first to binge the newest season. Unlock exclusive early access by joining Wondery+ in the Wondery App or on Apple Podcasts. Start your free trial today by visiting wondery.com/links/business-wars/ now. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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It's July 2023, and the most powerful executives in the world of media, finance and tech are in Idaho for the annual Sun Valley Conference, an invite only gathering where billionaires mingle, talk trends and initiate megadeals.
And among those attending is Disney CEO Bob Iger.
The 72 year old follows his assistant through the resort hotel.
He's wearing a designer pullover while holding a plastic bottle of water.
He waves, nods and smiles at the familiar faces he passes.
The assistant quickly turns to brief him while they walk.
Okay, we got cnbc.
Next David Faber's interviewing.
Likely questions will be latest results, stock price, linear television.
Iger nods.
It's been eight months since he returned to Disney and the honeymoon's over.
He might have warded off Nelson Pelt's attempt to stir a shareholder revolt, but the turnaround he promised is yet to happen.
Disney's stock price has fallen 16% in a year.
It and investors are questioning if Iger's up to the job.
So he's planning to use an interview with CNBC's show Squawk Box to reassure Wall street that he's not some old media dinosaur pining for the glory days of broadcast and cable tv.
The assistant leads him out of the building.
On the courtyard he sees CNBC's setup three cameras and two camping chairs arranged so viewers will see the mountains of Idaho in the background.
Iger greets Faber, raises his arm so a sound engineer can wire him up with a microphone, and settles in for an interview.