Disney CEO Bob Iger will stay with the company past 2019 if a deal can be worked out for 21st Century Fox’s TV assets, according to the Wall Street Journal’s Ben Fritz. Iger would help integrate Fox’s assets into Disney’s portfolio the report said.
Wednesday’s news comes just one day after a CNBC report suggested Disney and 21st Century Fox were closing in on a deal for Fox’s TV assets, which have an enterprise value of about $60 billion. The assets include A&E and Star TV networks, as well as its regional sports operation, movie studios, and stakes in Sky and Hulu, and others. The proposed deal would leave Fox with its news and sports assets.
Back in March, Iger’s contract was extended until July 2019, sparking speculation he could enter the 2020 election. He has been urged by friends to make a run for the Oval Office and was reportedly considering such a move.
Following Tuesday report that the two sides were closing in on a deal, the Financial Times suggested James Murdoch was “suggested” as a possible replacement for Iger in 2019. The thought being Murdoch would take a role as a senior executive with Disney as he was being groomed to succeed Iger.
Shares of Disney slipped to session lows on the news before settling down 1.58% at $105.53 apiece. They're down 0.61% this year.