Disney CEO Bob Iger's $1.5 Billion Bet on Fortnite and Epic Games
TL;DR Summary
Disney's CEO Bob Iger announced plans to stream Taylor Swift's concert movie on Disney+ and invest $1.5bn in Epic Games, allowing gamers to interact with Disney characters. The company also unveiled a joint venture for a new sports streaming platform with Fox and Warner Bros. Discovery, while reporting a drop in Disney+ subscribers following a price increase. Disney aims for streaming profitability by September and plans to buy back $3bn worth of shares, amid pressure from activist investor Nelson Peltz. Iger's return to Disney follows a share price decline, and the company faces a lawsuit from actress Gina Carano, funded by Elon Musk.
- Disney: Chief executive Bob Iger bets on Fortnite and Taylor Swift BBC.com
- Disney beats on earnings, boosts dividend as streaming losses narrow Yahoo Finance
- Disney to take $1.5 billion stake in Epic Games, work with Fortnite maker on new content CNBC
- Disney Buys $1.5 Billion Stake in Epic Games to Create 'Expansive' Universe Within Fortnite IGN
- Disney invests $1.5 billion in Epic to create “persistent universe” tied to Fortnite The Verge
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