Walt Disney Co has laid off Marvel Entertainment Chairman Isaac \u0022Ike\u0022 Perlmutter as part of a cost\u002Dcutting campaign.
Perlmutter, 80, had supported activist shareholder Nelson Peltz’s unsuccessful bid this year to obtain a seat on Disney’s corporate board.From our newsroom to your inbox at noon, the latest headlines, stories, opinion and photos from the Toronto Sun.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
Disney began to eliminate 7,000 jobs on Monday, in an effort to save $5.5 billion in costs and make its streaming business profitable.Article content Perlmutter, who outmaneuvered billionaire Carl Icahn for control of the comic book publisher in the late 1990s, sold Marvel to Disney for $4 billion in 2009.
Disney CEO Bob Iger later restructured Marvel in 2015, placing Marvel Studios under Walt Disney Studios. Perlmutter retained the title of chairman of Marvel Entertainment, a unit responsible for publishing, games, digital media and some consumer products. Perlmutter, who friends say was upset with Disney’s financial performance under its former chief executive, Bob Chapek, took the unusual step of contacting Disney board members and executives multiple times last year to advocate for Peltz to join the board, according to regulatory filings.Disney insiders had expressed incredulity at Perlmutter’s work on behalf of an activist shareholder.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Disney lays off Isaac Perlmutter, chairman of Marvel EntertainmentWalt Disney Co has laid off Marvel Entertainment Chairman Isaac \u0022Ike\u0022 Perlmutter as part of a cost\u002Dcutting campaign.
Read more »
Disney lays off Marvel Entertainment chairman Ike PerlmutterIsaac ‘Ike’ Perlmutter had supported activist shareholder Nelson Peltz’s unsuccessful bid to obtain a seat on Disney’s corporate board
Read more »
Man who killed Quebec police officer began showing problems in 2012Isaac Brouillard Lessard assaulted a psychiatrist and threatened another at a mental health institution in 2018.
Read more »
Jonathan Majors charged with several misdemeanour counts of assault and harassment - Terrace StandardJonathan Majors charged with several misdemeanour counts of assault and harassment
Read more »
Walt Disney Co. begins 7,000 layoffsWalt Disney Co. on Monday began 7,000 layoffs announced earlier this year.
Read more »
Walt Disney Co. begins 7,000 layoffsWalt Disney Co. on Monday began 7,000 layoffs announced earlier this year.
Read more »