New York CNN —
Disney has found itself in the middle of a culture war battle that could end up transferring Disney World’s governance to a board appointed by Florida Gov. Ron DeSantis. And that may be the least of Disney’s problems.
The company faces a media industry in turmoil, plunging cable subscriptions, a still-recovering box office, massive streaming losses, activist shareholders, possible reorganization and layoffs and growing labor disputes with employees. That’s a lot for CEO Bob Iger to handle.
Iger, who retired as CEO in 2020 only to be brought back in November, has been mostly quiet about his plans for the company since his return. That ends at 4:30 pm ET Wednesday when he is set to begin an earnings call with Wall Street investors.
Here’s what to look for on what is certain to be a closely-watched call.
Disney’s earnings are expected to fall nearly 30% from a year ago despite higher revenue, thanks to strong theme park sales and Avatar: the Way of Water, which grossed about $400 million in ticket sales in its two weeks in theaters at the end of last year on its way to more than $2.1 billion worldwide, according to Box Office Mojo.
The financial results might be the least interesting part of the call.
“We anticipate Disney is likely to introduce structural changes as well as cost cuts,” said Jessica Reif Ehrlich, analyst with Bank of America.
The expectation is that Iger will roll back the reorganization of the company’s...
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