English Entertainment
Disney showcases perfect marriage of creativity and tech at shareholder meeting
MUMBAI: The Walt Disney Co held its 2025 annual shareholder meeting on Thursday, with boss Bob Iger waxing lyrical about the firm’s “perfect marriage of exceptional creativity and groundbreaking technological achievement” which, he insisted, “has always set Disney apart.”
“Since the company’s earliest years under Walt, technology has always been viewed as a powerful storytelling tool, and innovation has been in our DNA since the start,” Iger declared in a video message from Walt Disney Imagineering’s headquarters in Glendale, California.
In a move that would make even Darth Vader crack a smile, Iger was joined by a flock of BDX droids—the same mechanical marvels that have been harassing guests at Disneyland—which will soon make their silver screen debut in The Mandalorian and Grogu, next year’s highly anticipated Star Wars cash cow.
The mouse house enjoyed a whopper of a year at the global box office in 2024, with Iger crowing about its “outstanding” performance following a reorganisation that “restored creativity to the centre of our studios.”
The company’s popular franchises brought home the bacon, with Pixar’s Inside Out 2, Marvel’s Deadpool & Wolverine, and Walt Disney Animation Studios’ Moana 2 claiming the top three spots at the box office. Talk about a triple threat.
Disney’s critical success was equally impressive. “Our renewed focus on quality over quantity has also resulted in outstanding critical success,” Iger boasted, noting that the company bagged a whopping 60 Emmy Awards, led by Shogun and The Bear. The firm also scooped 15 Oscar nominations, with Kieran Culkin winning Best Supporting Actor for his turn in Searchlight Pictures’ A Real Pain.
Looking ahead, Iger dropped a bombshell: a sequel to Coco, Pixar’s 2017 Academy Award-winning tearjerker, is in the works. “While the film is just in the initial stages, we know it will be full of humour, heart, and adventure,” he said, no doubt sending Mickey-shaped dollar signs spinning in shareholders’ eyes.
The Disney chief was keen to remind everyone that all these cinematic delights “will all be accessible on Disney+,” expanding the firm’s “rich library of a century’s worth of storytelling.”
“By giving subscribers the option to watch what they love most from across the worlds of Disney, all in one place, we are turning Disney+ into the ultimate streaming destination,” Iger declared.
With the recent additions of Hulu and ESPN tiles on Disney+, the company has created what Iger calls a “seamless streaming experience” that is “both convenient and user-friendly.” And when ESPN’s new direct-to-consumer offering launches in early autumn, subscribers can access the full suite of ESPN’s networks from inside Disney+. How thoughtful.
Turning to Disney’s Experiences segment, Iger was practically bursting with excitement. “Last year we talked about our plans to turbocharge growth in this segment through strategic investments. Today I’m proud to share some of what we’ve been up to,” he gushed. “Right now, we have more projects underway around the world than at any time in our history.”
The Magic Kingdom is undergoing its largest expansion ever, including a new area inspired by Cars and a much-anticipated Villains-themed land where guests can presumably pay $15 for a villain-themed ice cream while queuing for three hours.
A Monsters Inc. themed land is coming to Hollywood Studios, featuring the company’s first-ever vertical lift coaster (guaranteed to make your wallet feel lighter than your stomach). Meanwhile, a new Tropical Americas land is headed to Disney’s Animal Kingdom, with attractions based on Encanto and Indiana Jones.
Disney Cruise Line is also expanding, which will allow the company to “double our capacity to reach millions more people around the world,” according to Iger. Because nothing says “magical experience” like being trapped on a boat with thousands of screaming children wearing Mickey ears.
Iger also took time to highlight Disney’s charitable efforts, noting that in the wake of the devastating wildfires in Southern California, the company committed $15 million to recovery efforts.
“We remain the No. 1 wish-granter in the world for children facing critical illness, and on average Disney grants a child’s wish every hour of every day,” he said, temporarily making even the most cynical shareholders feel warm and fuzzy.
Iger concluded his remarks by returning to technology: “Thanks to modern technology, there’s never been a better time to be a storyteller,” he said.
Or, indeed, a Disney shareholder.
English Entertainment
Warner Bros. Discovery shareholders approve Paramount deal
Investors wave through a $111 billion megamerger but deliver a stinging, if toothless, rebuke over half-a-billion-dollar goodbye packages
NEW YORK: The shareholders said yes to the deal. They said no to the cheque. At a virtual special meeting on Thursday that lasted barely ten minutes, Warner Bros. Discovery investors voted overwhelmingly to approve Paramount Skydance’s $111 billion acquisition of the company — and then turned around and voted against the lavish exit pay packages lined up for chief executive David Zaslav and his fellow outgoing executives.
Not that it will make much difference. The compensation vote is purely advisory and non-binding. The Warner Bros. Discovery board can, and almost certainly will, pay out as planned.
But the symbolism stings. It is the second consecutive year that WBD shareholders have voted against the executive compensation packages, and this time they had good reason. Zaslav’s exit deal is, by any measure, extraordinary. Under the terms filed with the Securities and Exchange Commission, he is set to receive $34.2 million in cash severance, $517.2 million in equity in the combined company, and $44,195 in continued health coverage — a total of at least $550 million. On top of that, Warner Bros. Discovery has agreed to reimburse Zaslav up to $335 million for taxes assessed by the Internal Revenue Service on his accelerated stock vesting, though the company says that figure will decline depending on when the deal closes. As of March 11, Zaslav also held $115.85 million in vested WBD stock awards — and last month sold a further $114 million worth of WBD shares.
Shareholder advisory firm ISS recommended voting against the compensation measure, citing “problematic” tax reimbursements to Zaslav and the full vesting of his stock awards.
Zaslav will be bound by a two-year non-competition covenant and a two-year non-solicitation of customers and employees after the deal closes.
His lieutenants are not walking away empty-handed either. J.B. Perrette, chief executive and president of global streaming and games, is in line for $142 million, comprising $18.2 million in cash severance and $123.9 million in equity. Bruce Campbell, chief revenue and strategy officer, will receive an estimated $121.5 million, including $18.8 million in severance and $102.7 million in equity. Chief financial officer Gunnar Wiedenfels is set for $120 million, made up of $6.6 million in cash severance and $113.1 million in equity. Gerhard Zeiler, president of international, will get $82.6 million, including $11.9 million in severance and $70.7 million in equity.
The deal itself, clinched in February after Netflix declined to raise its bid for Warner Bros., still needs regulatory clearance from the Justice Department and European authorities. Several state attorneys general are also weighing legal action to block it.
Senator Elizabeth Warren, Democrat of Massachusetts, was unsparing. “The Paramount-Warner Bros. merger isn’t a done deal,” she said after the shareholder vote. “State attorneys general across the country are stepping up to stop this antitrust disaster. We need to keep up this fight.”
If it does go through, the combined entity would be a formidable beast, bringing together Paramount Skydance’s stable — CBS, CBS News, Paramount Pictures, Paramount+, BET, MTV and Nickelodeon — with WBD’s portfolio of HBO, Max, Warner Bros. film and TV studios, DC, CNN, TBS, TNT, HGTV and Discovery+. Paramount has said it expects $6 billion in cost savings from the merger, which is Wall Street shorthand for mass layoffs on a significant scale.
The ten-minute meeting was presided over by chairman Samuel Di Piazza Jr., with Zaslav, Campbell, Wiedenfels and chief communications officer Robert Gibbs in virtual attendance. Di Piazza was bullish. “We appreciate the support and confidence our stockholders have placed in us to unlock the full value of our world-class entertainment portfolio,” he said. “With Paramount, we look forward to creating an exceptional combined company that will expand consumer choice and benefit the global creative talent community.”
Zaslav echoed the sentiment. “Over the past four years, our teams have transformed Warner Bros. Discovery and returned the company to industry leadership,” he said. “Today’s stockholder approval is another key milestone toward completing this historic transaction that will deliver exceptional value to our stockholders.”
Paramount Skydance struck a similar note. “Shareholder approval marks another important milestone towards completing our acquisition of Warner Bros. Discovery,” it said in a statement, adding that it looked forward to “closing the transaction in the coming months.”
The shareholders have spoken on the merger. On the pay, they were ignored before the vote was even counted.
