Disney Lays Off Marvel Entertainment Chairman Isaac "Ike" Perlmutter In Cost-cutting Measure
Disney has cut costs all the way to the top. Disney lays off Marvel Entertainment chairman, Isaac "Ike" Perlmutter, because his division, which is separate from Marvel Studios, is being merged with other parts of Disney.
Author:Camilo WoodReviewer:Dexter CookeMar 31, 20232.6K Shares330.1K Views
Disney has cut costs all the way to the top. Disney lays off Marvel Entertainment chairman,Isaac "Ike" Perlmutter, because his division, which is separate from Marvel Studios, is being merged with other parts of Disney.
Along with Perlmutter, Rob Steffens, co-president of Marvel Entertainment, and John Turitzin, chief counsel of Marvel Entertainment, were also fired. Dan Buckley will stay on as president of the division. He will report to Kevin Feige, who is in charge of Marvel Studios.
Disney Lays Off Marvel Entertainment Chairman
BREAKING Disney Fires Chairman of Marvel Entertainment
Disney fired Isaac "Ike" Perlmutter, who was in charge of Marvel Entertainment. This was part of their plan to cut costs. Marvel Entertainment is a small part of Disney that is in charge of consumer products. It is different from Marvel Studios, which is in charge of the Marvel Cinematic Universe. This Wednesday, Disney decided that Marvel Entertainment was an unnecessary business unit that will now be merged into Disney's biggest ones.
Perlmutter is known for being ruthless in business. He helped Marvel avoid bankruptcy in 1997 and was a key part of the deal that led to Disney buying the comic book company in 2009. Perlmutter could have been very important to Marvel's survival a few decades ago.
However, the executive was at the center of many controversies, including sexist, homophobic, and racist comments that stopped movies like Black Panther, Black Widow, and Captain Marvel from being made.
In 2015, Perlmutter also tried to get Kevin Feige fired so he could run the part of Marvel that makes movies. So, while Disney's official reason for firing Perlmutter was to save money, the 80-year-old executive's departure could end some unwelcome internal turmoil.
Just a few weeks after Victoria Alonso left Marvel Studios, Disney closed down Marvel Entertainment. Alonso worked for Marvel Studios since the release of 2008's Iron Man and the start of the MCU. According to reports, he had to leave because he broke his contract. But people who work for the producer say that's not true and that she was fired because she said bad things about Disney.
As a way to save money, Disney decided to fire Perlmutter. This is ironic since the executive was known for being cheap, doing things like holding Marvel Studios press junkets in Disney's offices and forcing employees to reuse office supplies.
In 2009, Perlmutter sold Marvel to Disney for $4 billion. Since then, Marvel Studios has become a box office giant that has dominated the industry in the 2010s. He took over Marvel Entertainment for the first time in the 1990s when the comic book publisher was going bankrupt and it was folded into Toy Biz, which Perlmutter and Avi Arad ran together.
On Monday, Disney started getting rid of 7,000 jobs to save $5.5 billion and make its streaming business profitable. In the late 1990s, Perlmutter beat billionaire Carl Icahn in a battle for control of the comic book publisher. In 2009, he sold Marvel to Disney for $4 billion.
Later, in 2015, Bob Iger, the CEO of Disney, reorganized Marvel by putting Marvel Studios under Walt Disney Studios. Perlmutter kept his job as chairman of Marvel Entertainment, which is in charge of books, games, digital media, and some consumer products.
Conclusion
Walt Disney Co. (DIS.N) lays off Isaac "Ike" Perlmutter, who was in charge of Marvel Entertainment. A source confirmed this on Wednesday. Perlmutter, who is 80 years old, backed activist shareholder Nelson Peltz's unsuccessful bid this year to get a seat on Disney's corporate board.
The executive was told by phone on Wednesday that Marvel Entertainment, a small part of the company that publishes comic books and makes some consumer products, would be merged into larger Disney business units.
Camilo Wood
Author
Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing.
Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers.
Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
Dexter Cooke
Reviewer
Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations.
As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all.
Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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