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He offered a dire prediction for the movie business: the theater industry may never return to its pre-pandemic heights.
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In the discussion at the Code Conference, Iger, one of the most important figures in the history of Hollywood, also touched on the entertainment industry. Actually, the deal we had was pretty cheap.” “I don’t remember the number, but we discounted the value heavily.
“We at that point estimated with some of Twitter’s help that a substantial portion - not a majority - were not real,” Iger said. Highlighting the amount of due diligence Disney performed as it weighed a deal with Twitter, Iger said the company did “look very carefully” at the issue of fake accounts. This was just something that we were not ready to take on, and I was not ready to take on as the CEO of a company, and I thought it would have been irresponsible.” “We’re in the business of manufacturing fun at Disney - of doing nothing but good, even though there are others today that criticize Disney for the opposite, which is wrong. “You have to look, of course, at all the hate speech and potential to do as much harm as good,” Iger said. But Iger ultimately decided that Disney was unprepared to moderate a platform as freewheeling as Twitter, or to have it be so closely associated with Disney’s brand. While Musk initially said he wanted to buy Twitter to “defeat the spam bots” and also ensure the social network remained a trusted platform for democracy, Iger and Disney had very different aims for a possible acquisition.ĭisney had been considering Twitter as a possible distribution channel for entertainment content, Iger said Wednesday, adding it would have been a “phenomenal solution” for Disney and that the two companies had very nearly completed their talks. Twitter has defended its estimates and sued Musk to complete the deal, arguing the billionaire is looking for a pretense to get out of a deal he now views as overvalued. Musk has alleged that Twitter likely under reports the true share of spam accounts. Twitter has long said spam accounts represent less than 5% of its monetizable daily active users. In response to a post about Iger’s comments, Musk tweeted: “Interesting …” Iger’s remarks quickly caught the attention Elon Musk, who has made the prevalence of spam accounts a central argument for why he should be allowed to back out of an agreement to buy Twitter for $44 billion.
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Judge denies Elon Musk's request to delay Twitter trial following whistleblower disclosure
Elon Musk pauses and looks down as he speaks during a press conference at SpaceX's Starbase facility near Boca Chica Village in South Texas on February 10, 2022.
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