After declining to comment, Disney (when Bob Chapek was CEO) later said, the Parental Rights in Education Act of Florida, also known as “Don’t Say Gay” should never have been implemented and Disney will strive to get it repealed.
Following this; Florida Governor- Ron DeSantis and the Florida Legislature, passed and signed a bill that will dissolve Disney’s Reedy Creek Improvement District—the special taxing district Disney has functioned under for years, giving them a significant amount of control over their land in Orlando. This has been perceived by many as a form of retaliation.
Bob Iger has taken over as CEO of Disney in place of Bob Chapek. The potential implications for Reedy Creek and Disney’s connection with DeSantis have already been discussed, but now we have a comment from the Governor regarding Florida politics and Disney.
Since then, Florida Governor- Ron DeSantis has addressed Iger’s comments and tweeted his reply via a Fox News interview.
Tucker Carlson mentioned Disney in the Fox News interview as a firm that receives significant government benefits (particularly in Florida). He continued by saying, DeSantis “modified” it, most likely pointing to the measure about Disney’s Reedy Creek District being passed.
Then, Carlson said, “because of that,” Disney changed CEOs. We dug more into this, it seems; several problems regarding the legal disputes in Florida caused by Chapek’s dismissal.
For the year 2022, Disney’s current quarterly earnings report continuously mentioned a massive reason for Chapek’s removal. The report suggested, Disney had around $1.5 billion in quarterly losses in streaming. Revenues also fell off projections and expectations.
Add to that Chapek’s internal memo outlining cost-cutting measures (like layoffs and hiring freezes), Chapek’s handling of the “Don’t Say Gay” controversy, Chapek’s also managing of the Black Widow situation and lawsuit, what some viewed as Chapek’s overly optimistic attitude during the earnings call, and other problems.