I see this as a desperation tactic by Disney, whose revenues and market value have declined precipitously since Bob Iger took over (shares are down 28.39% over 5 years. also down 2.6% over 1 year, and 5.02% YTD).
(1) Bob Iger retired as Disney CEO in 2020. He returned to CEO position in late November 2022.
(2) Revenue has not declined
"precipitously since Bob Iger took over"... neither during his 1st time as CEO from Oct. 2005, nor during his 2nd stint from Nov. 2022.
Disney Fiscal Year Revenue
FY2009 (ended Oct. 03, 2009) = $36.149 billion
FY2010 (ended Oct. 02, 2010) = $38.063 billion
FY2011 (ended Oct. 01, 2011) = $40.893 billion
FY2012 (ended Sep. 29, 2012) = $42.278 billion
FY2013 (ended Sep. 28, 2013) = $45.041 billion
FY2014 (ended Sep. 27, 2014) = $48.813 billion
FY2015 (ended Oct. 03, 2015) = $52.465 billion
FY2016 (ended Oct. 01, 2016) = $55.632 billion
FY2017 (ended Sep. 30, 2017)= $55.137 billion
FY2018 (ended Sep. 29, 2018) = $59.424 billion
FY2019 (ended Sep. 28, 2019) = $69.607 billion
FY2020 (ended Oct. 03, 2020) = $65.388 billion (decline due to Covid pandemic)
FY2021 (ended Oct. 02, 2021) = $67.418 billion
FY2022 (ended Oct. 01, 2022) = $82.722 billion
FY2023 (ended Sep. 30, 2023) = $88.898 billion
I don't see how trying to grow by taking on more debt, as they did with Pixar, MCS and now Hulu, is going to improve that outlook, do you?
Both parties
made a deal in 2019 where Disney has to buy the 33 percent stake in Hulu owned by Comcast. Disney gained majority ownership of Hulu when
Disney bought 21st Century Fox in 2019.
As for Disney's purchase of Pixar, Lucasfilm, and Marvel, those have paid off very well for Disney over the years.
Hulu (and Netflix) are the
only two profitable streaming services, so Disney acquiring full ownership is not a bad move.
And of course, there is the political box Gov. DeSantis put them in on the LGBTQ issue. Disavow him or betray their customers and employees? Devil's choice.
(1) This occurred during Bob Chapek's tenure as CEO, not Bob Igers.
(2) Disney is in no box. The outcome of the lawsuits haven't even been determine yet.
Get your facts straight.