Disney CEO Bob Iger announces Fox deal Video

Transcript for Disney CEO Bob Iger announces Fox deal

And a lot of questions for the man in charge, Disney’s CEO Bob iger joins us now. Thanks for joining us this morning. $52.4 billion according to the press release. That is a huge bet. Why are you making it? Well, we’re making it because this gives us the ability to marry the great content of fox with the great content of Disney. It gives us a much larger international footprint and enables us to use cutting-edge technology to reach consumers in far more compelling ways and know how important that is in today’s world. Explain that. What difference is this going to make to everyone at home watching? Well, I think it’s pretty clear today that consumers want access to entertainment, one, that is high quality, but, two, want access pretty much any time, anywhere, anyhow and requires new technology to be able to deliver it in that fashion. Hulu certainly provides that so the controlling stake in hulu that we will acquire with this acquisition is one way to provide it. Another is the fox international footprint has some extremely high-end technology to deliver all this content to consumers in more modern ways, star India another one. So to the consumer not only will they get great content but they’ll get it in ways that they demand. Innovative ways that today’s consumer requires really in terms of increasing or their consumption or enjoying their consumption. Is it fair to think of Disney becoming a new Netflix? Well, we’ve been in the process of launching a direct to consumer service, it’s one of the primary priorities of the company right now, to give us the ability to reach consumers directly and we’re going to launch an ESPN direct service in 2018 and a Disney brand service in 2019. This clearly will jump-start those efforts, give us more content, more producing capabilities for those services and we’re not really looking to necessarily reach the scale of Netflix quickly. But we certainly aim to be, you know, an able competitor to theirs but more importantly we believe this is the way of the future to be able to reach consumers directly, it’s clearly a value proposition associated with that but also something consumers want because in doing so you can tailor it to consumers in more personalized ways. A lot of changing coming in the future. You were supposed to leave this position in 2019. You’re going to stay now? I am going to stay till the end of 2021. I’ve got one of the greatest jobs in the…

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