Disney May ’23 Earnings Call

Iger poured more gas on the fire at the Earnings Call yesterday. He again, strongly indicated that Disney and Reedy Creek were the same entity.

He then said, “does Florida want Disney’s tax money or not?”

Bitch, please!

The retard media maybe stupid enough to believe you can just packup Disney World and move it but no one else is that dumb.

It would take you decades to rebuild, using billions you can’t afford to spend.

You can’t sell the property you have now except for pennies on the dollar.

You sure as heck can’t afford close Disney World down.

In the mean time DeSantis can dissolve the district and force you to pay the bonds now, he can force you to deal directly with with two counties which will also be taxing you to death. He could even put toll roads all over Disney World collecting hundreds of dollars a day.

You have no leverage here.

Grovel. Mouse. Grovel.

It’s the only thing you can do.

NEXT

Disney+ lost millions of subs in the last quarter, on top of its usual cruise ship size write-down on operating costs. Iger is now talking about a “rethink” and they will be pulling some content. I assume it will be the “Treasures from the Vault.” Hulu is doing well, it’s actually making money…for now. However there is that $27.5 billion payment that will have to go to Universal next year.

Interestingly, Iger started the meeting with congratulatory message to Universal about the success of the Mario Brothers movie. A little odd for a Disney earnings call, this indicates to me that Iger is strongly considering selling Hulu to Universal. Since that would get Disney about $40 billion, which they do need to repair their balance sheet, (a condition brought on by Iger’s decade long spendathon), it would be a good idea. More importantly, it’s something that Bob Iger’s pride will allow him to do.

More and more that seems to be Disney’s biggest problem, Bob Iger’s level of pride. It’s up there with Lucifer’s.

UPDATE: It’s 11:00am and Disney stock has lost 10% of its value since the earnings call. Not really something the institutional investors like to see.