Disney has taken a woke turn.
The move has cost the corporation a lot of money.
And this major Disney investor made one statement about the 2024 election that has Joe Biden hysterical.
Disney CEO Bob Iger once believed that he could run for President.
Now, he might not even be able to keep his position within Disney.
Iger is in the midst of a board proxy fight with billionaire investor Nelson Peltz, who represents a faction within Disney’s board who are not happy with the company’s poor financial performance.
2024 Presidential race
Peltz also made another big announcement – he’s backing former President Donald Trump in 2024.
Peltz is not an enthusiastic Trump supporter by any stretch, but he understands the threat that President Joe Biden and unhinged Democrats’ woke extremist agenda represent.
When asked by The Financial Times whom he’s supporting in 2024, Peltz said, “It will probably be Trump and I’m not happy about that.”
He added that Biden has a “really scary mental condition.”
Peltz also told The Financial Times that America is “degrading” under Biden’s leadership.
The billionaire investor clearly feels the same way about Iger and Disney.
Peltz’s Trian Fund Management is attempting to take control of the money with a shareholder meeting right around the corner on April 3.
Disney hurting its brand
In 2022, Disney’s stock fell a whopping 44% and finished with the company’s worst stock performance since 1974.
And 2023 was not exactly a bonanza, either.
Disney was forced to push back its live-action version of Snow White after screencaps and interviews from lead actress Rachel Zegler suggested the film was going to be a woke mess.
“It’s no longer 1937, and we absolutely wrote a ‘Snow White’ — she’s not going to be saved by a prince! And she’s not gonna be dreaming about true love,” Zegler initially said. “She’ll be dreaming about becoming a leader she knows she can be.”
It turns out that people go to fairy tales to see fairy tales, not girl-boss movies.
Zegler later backed off her comments.
Iger said himself that Disney lost its way.
“Creators lost sight of what their No. 1 objective needed to be,” he said during a summit. “We have to entertain first. It’s not about messages. . . We have entertained with values and with having a positive impact on the world in many different ways. ‘Black Panther’ is a great example of that.”
“I like being able to entertain if you can infuse it with positive messages and have a good impact on the world. Fantastic. But that should not be the objective. When I came back, what I have really tried to do is to return to our roots,” he added. “I’ve worked hard since I’ve been back to reminding the creative community who are our partners and our employees that that’s the objective. . .And I don’t really want to tolerate the opposite.”
Time could be running out for Iger to make the necessary changes.
