The Future. Disney is potentially bringing back former C-suite execs Kevin Mayer and Tom Staggs to help figure out the company’s next steps for its linear TV channels — assets that CEO Bob Iger recently revealed could be up for sale. While that’s significant in and of itself, it’s even more interesting when considering Iger’s mandate to name a successor. But with Mayer and Staggs still in the beginning stages of creating their own empire with Candle Media, it’s possible Disney may need to acquire that company to trap the mice permanently.
Disney is getting some fresh help from some old friends.
- Per Puck, Iger is independently in discussions with Mayer and Staggs to consult with the Mouse House about its declining linear TV business.
- What about it? THR reports it’s to help set a strategy to sell networks like ABC, FX, and a stake in ESPN (which is also getting a streaming makeover).
- And it’s safe to say they may have some strong thoughts on the Hulu question.
Staggs (who was Disney’s former COO, CFO, and head of parks) and Mayer (who spearheaded the creation of Disney+) were both at one point the heir apparent to Iger’s throne before getting snubbed (Staggs for another Iger contract re-up and Mayer for Bob Chapek). With Iger’s main priority being finding a successor (again), both men are potentially in pole position for another shot at the Mickey-eared crown.
But both Disney alums still co-run the Blackstone-backed Candle Media, which has been on an M&A tear over the past two years as they build a company that wants to be at the intersection of “content, community, and commerce.”
Come to think of it, that sounds a bit like Disney…