By Lisa Richwine
LOS ANGELES (Reuters) -Walt Disney Chief Executive Bob Iger said on Wednesday he would “definitely” step down when his current contract ends in 2026 and that the ABC broadcast network was not for sale.
In a wide-ranging interview at the New York Times Dealbook Conference, Iger also said he was “bullish” on the prospects for Shanghai Disneyland and he expected the company would expand the theme park “relatively soon.”
Iger returned to Disney as CEO in November 2022, less than a year after he retired, to revamp the media company after the board ousted his hand-picked successor, Bob Chapek.
Disney’s ABC unit is not up for sale, Iger said as the company deals with a decline in linear television because viewers are shifting toward streaming. Iger had said earlier this year that networks such as ABC may not be “core” to Disney going forward.
Disney shares were up 0.3% in afternoon trading at $92.81 on the New York Stock Exchange.
(Reporting by Zaheer Kachwala in Bengaluru and Lisa Richwine in Los Angeles; Editing by Maju Samuel and Cynthia Osterman)