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Disney CEO Bob Iger told employees Monday that he won’t lift the company’s hiring freeze as he examines costs — and sought to throw cold water on rumors about a possible merger with Apple.
Iger, who last week replaced his one-time successor Bob Chapek as CEO in a surprise reshuffle, unveiled the news during a town hall meeting at Disney’s studio lot in Burbank, Calif., where he gave brief remarks and fielded questions from employees.
According to CNBC, the CEO opened the meeting by quoting a line from the song “What’d I Miss?” from Lin-Manuel Miranda’s musical “Hamilton” that says, “There is no more status quo. But the sun comes up and the world still spins.”
Iger said he was skeptical about the future of TV and addressed the importance of making Disney’s streaming unit profitable. Disney recently reported that its streaming unit, which includes Disney+, Hulu and ESPN+, lost $1.5 billion in the fourth quarter.
