IGER BACK AT DISNEY:

Just weeks after stepping down as CEO at Disney, Bob Iger is back to lead the company through the tough times ahead. With a forced shutdown of theme parks and cruises, Disney has also had to postpone the release of forthcoming films and television pilots. Iger, who last week said he’d sacrifice 100 percent of his US $3 million salary, will furlough tens of thousands of staff across all sectors from April 19.

Iger is looking to build on the success of Disney’s new streaming service as it postpones the release of forthcoming blockbusters like its Mulan remake.

Disney said last week it had more than 50 million subscribers around the world just five months after its launch after setting a target of 60 to 90 million by the end of fiscal 2024.

In an email to The New York Times, Iger wrote, “A crisis of this magnitude, and its impact on Disney, would necessarily result in my actively helping Bob (Chapek) and the company contend with it, particularly since I ran the company for 15 years!”

The coronavirus crisis which is estimated to be costing Disney up to US $30 million each day. The company recently borrowed US $6 billion to see it through the uncertain period. The closure of the parks reported to have cost the company around US $500million last month.

The CEO also said that theme parks could take guests’ temperatures at the gates so that they can get back “to some semblance of normal, people will have to feel comfortable that they’re safe.”

Disney Cruise Line – which operates four ships – announced Friday that all new departures of the Disney Dream, Disney Fantasy and Disney Magic would be postponed until at least the end of May. The Disney Wonder will not be sailing until at least July