Tag Archives: bob iger

Funko Gets a $236 million investment from Chernin Group, Bob Iger and Rich Paul

Funko

The toy business must be booming. A group of individuals is investing $263 million into Funko, the pop culture/toy/apparel brand. That will provide them with a 25% stake.

The investment is being led by The Chernin Group, with eBay and Rich Paul. Also involved are Jesse Jacobs who will get a seat on Funko’s board and former Disney CEO Bob Iger. Iger and Paul will serve as advisors to the board. Paul will help Funko expand further into music and sports.

Chernin said in a statement:

We believe Funko is significantly undervalued in the public markets and at this highly attractive entry price provides a runway of opportunity and growth potential. There are many areas of identifiable growth across content, commerce, marketplaces, consumer products and technology that should drive substantial increases to Funko’s performance.

Funko has expanded heavily in popculture and what once was “bobbleheads” of comic characters has expanded further into sports, music, anime, movies, and more including clothing and board games. The company’s first manufactured bobblehead was of the well-known restaurant icon, the Big Boy mascot.

Funko was founded in 1998 by Mike Becker and went public in 2017. Its revenue was $653 million in 2020.

(via The Hollywood Reporter)

Susan Arnold will Replace Bob Iger as Disney’s Board Chair

Disney logo

Susan Arnold will take over as Disney‘s chairman of the board. She succeeds former CEO Bob Iger who has been the board chairman since 2012. Iger is set to step away by the end of this year. Arnold is the first woman to hold the position in the company’s 98 year history.

Arnold has been on Disney’s board for 14 years and been the independent lead director since 2018. She was an operating executive at The Carlyle Group until this year. She has also served as president of the global business units of Procter & Gamble from 2007 to 2008 and was a member of McDonald’s board from 2008 to 2016. The Carlyle Group has been the center of numerous controversies including Taylor Swift’s music buyout, accused of profiting from conflict, and missteps from leadership.

Disney’s executive structure will keep the roles of CEO and chairman separate for now. Bob Chapek was named Disney’s CEO in February of 2020.

Bob Iger Steps Down as Disney CEO

Bob Iger has suddenly stepped down as the CEO of Disney. The move is an abrupt one with Bob Chapek replacing Iger. Iger will now be the executive chairman through 2021.

Iger’s decision was due to his wanting to focus more on the creative side of things now that major projects like the Fox merger and launch of Disney+ have been completed.

Under Iger Disney also added Pixar, Star Wars, and Marvel to its catalogue of IP.

Iger said last year that he’d step down in 2021, so the news was expected though not in this timeline.

In the statement, Iger said:

With the successful launch of Disney’s direct-to-consumer businesses and the integration of Twenty-First Century Fox well underway, I believe this is the optimal time to transition to a new CEO

Disney’s shares fell 2.5% after hours due to the news.

Both Netflix and Disney Threaten Georgia Boycott Over Anti-Choice Law

Two big studios have finally spoken out on the anti-abortion legislation signed into law in Georgia.

Netflix is the first major studio to speak out about the recently signed law. Other smaller ones have threatened boycotts or enacted them. Netflix has produced shows like Stranger Things and Ozark in the state. They said they would “rethink their investment in the state.”

Disney CEO Bob Iger also spoke out this week saying it’d be “very difficult” for the company to continue filming in Georgia as well following up with “I rather doubt we will.” He cited the fact that many people wouldn’t want to work in the state. Black Panther and Avengers: Endgame were both filmed in the state. Kristin Bell‘s upcoming Disney+ series Encore was to film in the state.

I think many people who work for us will not want to work there, and we will have to heed their wishes in that regard. Right now we are watching it very carefully.

I don’t see how it’s practical for us to continue to shoot there.

– Bob Iger, Disney CEO

The law doesn’t go into effect until January and faces numerous court challenges. Disney said they will currently continue production there but also said they will support partners and artists who choose not to do business with the state.

In 2016 when Georgia signed a religious freedom bill that was criticized as anti-gay, Disney was vocal when it came to a proposed boycott of the state.

Dubbed the “heartbeat bill,” the law signed by Governor Brian Kemp bans abortion after six weeks, a short time period that many don’t even know they’re pregnant. It also would allow the prosecution of anyone who seeks an abortion out of state and anyone who helps them. It’s one of the most restrictive abortion laws in the United States.

The movie industry brought more than 92,000 jobs to the state in 2018 through 455 productions infusing around $2.7 billion into the local economy. The state offers tax incentives up to 30 percent back which has drawn production to there.

The state is already losing money over the law. The Kristen Wiig upcoming comedy Barb and Star Go to Vista Del Mar has pulled out of the state and will no longer be filming there. J.J. Abrams and Jordan Peele are donating their salaries from productions in Georgia to help fight the law.

The MPAA hasn’t taken a stand and is waiting to see how court battles play out.

Disney Shows How It’s Done, Preps 3 Marvel Properties for ABC


Bookmark and Share

What does ABC and ABC Family have in common with Marvel?  Both are owned by Disney.  The house that the mouse built is using it’s newly acquired property factory and developing three television shows.

In an interview with the Wall Street Journal, Disney CEO Bob Iger let it drop they’re working on some television shows.

WSJ:In the past year-plus you’ve made two splashy acquisitions: Marvel and Playdom. How are the integrations of those two companies progressing?

Iger: {With Marvel} we’ve taken back distribution, or bought back distribution {Viacom Inc.’s} Paramount, for some critical franchises. Notably, Iron Man 3 will be distributed by us, and Avengers. We’re developing three live-action series for ABC and ABC Family. You can buy Marvel products at Disney Stores. And we’re working on Marvel games.

The Examiner says word has leaked the three shows are based on Cloak & Dagger (which fits the ABC Family demo), The Punisher and a new show based on The Hulk.

This is how it’s done folks.  Compare that with Warner Bros. and it’s years of a television network and owning DC comics and we have Smallville and, well, that’s it.