Some Disney exes think Disney CEO Bob Iger’s ultimate plan to to sell the company to Apple

I STILL don’t think Apple will buy Disney, but the rumors/speculation won’t go away. Now Business Insider reports that former and current Disney execs told CNBC they think CEO Bob Iger’s ultimate “end game” plan is to one day sell to Apple.

Analysts have speculated about an Apple acquisition of Disney for years. Iger himself once wrote that he thinks the two companies would have combined if Steve Jobs were still alive. However, Apple rarely makes major acquisitions and has never done one at such a scale — the company’s biggest buy to date is still its 2015 acquisition of Beats for $3 billion.

Still, according to The Wrap, “Apple is still the most obvious potential buyer for a slimmed-down Disney.” Disney’s stock is down over 50% from its highs a couple years back and has continued mostly on a downward trajectory after Iger’s return gave it an early buzz. Particularly troubling are plunging revenue and profits for ESPN and Disney’s other cable networks (down 6% to $14 billion and 29% to $3 billion, respectively, for the first six months of fiscal year 2023, which cover October through March). 

Writing for The Wrap, Owen Thomas says anApple-Disney pairing would be applauded by Wall Street. He notes that Apple and Disney have been closely aligned in the media business since 2006, which is the year Disney bought Pixar from Steve Jobs and Apple began selling Disney movies on iTunes. After Jobs died, Iger sat on Apple’s board until 2019.

“The companies know each other intimately, and that shared DNA and mutual respect bode well for a post-sale integration. A complementary company culture is necessary for any successful M&A,” Thomas writes. “To be clear, Cook certainly wouldn’t want to buy all of Disney’s assets, like its theme parks, for example. Apple, in great need of franchise content and a deeper content pool for Apple TV+ to more effectively compete with Netflix and Max, would likely seek to acquire just Disney’s prized entertainment assets, leaving the theme parks and TV networks for others to pick over.”