Walt Disney Co Chief Executive Bob Iger will likely extend his tenure past 2019 to facilitate integration of Twenty-First Century Fox Inc assets if a deal is completed, according to a new report.
Disney is in the lead to acquire much of Fox’s $40billion media empire, though rival suitor Comcast Corp remains in contention, Reuters reported on Tuesday.
According to the Wall Street Journal, Iger would help integrate Fox’s assets into Disney’s portfolio and James Murdoch would not become CEO if the deal is complete.
Disney did not immediately respond to a request for comment.
Walt Disney Co Chief Executive Bob Iger (above) will likely extend his tenure past 2019 to facilitate integration of Twenty-First Century Fox Inc assets if a deal is completed, according to a new report
Iger, who is 66, has already postponed his retirement from Disney three times.
In March, he said he was committed to leaving the company in July 2019.
‘I’m serious this time around,’ he said at a University of Southern California event at the time.
But Disney has not named a successor to run the world’s largest entertainment company, which owns cable channels including ESPN, theme parks and a movie studio.
Following the WSJ report on Wednesday that the two companies were closing in on a deal, the Financial Times reported James Murdoch (above) was ‘suggested’ as a possible replacement for Iger in 2019
Iger is well regarded on Wall Street for transforming Disney with the acquisitions of Pixar, Marvel Studios and ‘Star Wars’ producer Lucasfilm.
He has also been reportedly urged by friends to run for president of the United States in 2020.
Following the WSJ report on Wednesday that the two companies were closing in on a deal, the Financial Times reported James Murdoch was ‘suggested’ as a possible replacement for Iger in 2019.
Shares of Disney fell to session lows on the news before settling down 1.58 per cent at $105.53 apiece.
They are down 0.61 per cent this year.