Disney CEO Says Possibility of Selling Hulu Is on the Table

By Aaron Perine

Disney CEO Bob Iger says that selling Hulu is not exactly off the table when it comes to the future of the company. CNBC spoke to the executive after a wild earnings call that had the cultural institution announce 7,000 layoffs and multiple franchise sequels in the same span. Iger called Hulu "a very successful platform, and I think a good consumer proposition. But everything's on the table right now." The CEO is looking to tighten the belt over at Disney after some rabble rousing from activist investor Nelson Peltz. The noisy executive board hopeful had abandoned his quest for changes after a lot of the policies outlined by Iger in his earnings speech matched up to his requests. Now, the streaming arms of the company are looking around a little concerned for what this could all mean for their future. 

The head man had some praise for Disney streaming units like FX and Hotstar, but he noted that "there are seven or eight platforms in the streaming business alone that are in general entertainment. That's a tough business to be in competitively, and it's not our strongest suit."

"I'm suggesting that isn't necessarily the case," Iger responded when asked about buying the other half of Hulu next year when the deal is up for negotiation. "I'm not gonna speculate about whether we're a buyer or seller of it," Iger added. "I obviously have suggested that I'm concerned about undifferentiated general entertainment, particularly given the competitive landscape that we're operating in, and we're going to look at it very objectively."

Tackling The Situation After CEO Bob Chapek's Departure

Disney's board brought Iger back into the fold after a tumultuous couple of years during the COVID-19 pandemic, which is still ongoing. The executives believed they needed a stabilizing force after so much upheaval. Along with those general sentiments, its become clear that the CEO believes there's been a rift created between creative forces at Disney and the people making decisions at the highest levels.

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"The structure of the company that had been changed by my predecessor … it created a huge divide between the creative side of the company, the content engines – movies and television – and the monetization, distribution side of the company," Iger elaborated. "It was very, very apparent to me that, while I was out and when I came back, that was a mistake."

Do you think Disney will sell Hulu? Let us know down in the comments!

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