Bob Iger | |
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Born | Robert Allen Iger February 10, 1951 New York City, U.S. |
Education | Ithaca College (BS) |
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Predecessor | |
Successor | Bob Chapek |
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Spouses | |
Children | 4 |
Relatives | Jerry Iger (great-uncle)[2] |
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Robert Allen Iger (/ˈaɪɡər/; born February 10, 1951)[3] is an American media business executive who serves as the chief executive officer (CEO) of The Walt Disney Company.[4] He previously served as the President of the American Broadcasting Company (ABC) between 1994 and 1995 and as president and chief operating officer (COO) of Capital Cities/ABC, from 1995 until its acquisition by Disney in 1996. Iger was named president of Disney in 2000 and succeeded Michael Eisner as CEO in 2005, until his contract expired in 2020. He then served as executive chairman until his retirement from the company on December 31, 2021. After his exit from the company, Iger served, at the company's request, as an advisor to his successor. Iger was awarded $2 million per year for such advice. However, at the request of Disney's board of directors, Iger returned to Disney as CEO on November 20, 2022, following the unscheduled and immediate dismissal of his appointed successor, Bob Chapek.[5] In July 2023, Disney renewed Iger's contract until 2026.
During his initial 15-year stewardship of the company, Iger broadened Disney's roster of intellectual properties, expanded its presence in international markets, and oversaw an increase of the company's market capitalization from $48 billion to $257 billion. He led the major acquisitions of Pixar in 2006 for $7.4 billion, Marvel Entertainment in 2009 for $4 billion, Lucasfilm in 2012 for $4.06 billion, and the entertainment assets of 21st Century Fox in 2019 for $71.3 billion. Iger also expanded the company's theme park resorts presence in East Asia, with the introduction of Hong Kong Disneyland Resort and Shanghai Disney Resort in 2005 and 2016, respectively. Additionally, he was also the driving force behind the reinvigoration of Walt Disney Animation Studios, the branded-release strategy of its film studio's output, and the company's increased investment in its direct-to-consumer businesses, including Disney+ and Hulu.
Early life and education
Robert Allen Iger was born to a Jewish family in New York City.[3][6][7] He is the oldest son of Miriam "Mimi" (née Tunick) (1927–2013) and Arthur L. Iger (1926–2010).[8][9] His father was a World War II Navy veteran[10] who was the executive vice president and general manager of the Greenvale Marketing Corporation, and was also a professor of advertising and public relations.[11][8][10] His mother worked at Boardman Junior High School in Oceanside, New York.[12][13] Arthur's father Joe (i.e. Bob's paternal grandfather) was cartoonist Jerry Iger's brother.[2]
He was raised in Oceanside, where he attended the Fulton Avenue School and graduated from Oceanside High School in 1969.[14][15] In 1973, he graduated magna cum laude from the Roy H. Park School of Communications at Ithaca College with a Bachelor of Science degree in Television and Radio.[16]
Career
Iger began his media career in 1972 as the host of Campus Probe, an Ithaca College television show. He dreamed of becoming a news anchor while he worked as a weatherman in Ithaca for five months, before shifting his career goals.[17][18]
American Broadcasting Company (ABC)
In 1974, Iger joined the American Broadcasting Company (ABC).[19][20] His first job was performing menial labor on television sets for $150 a week (over $700, adjusted for inflation).[10]
In 1988, Iger served as the senior program executive for the Calgary Winter Olympics. The event was marred by disruptive weather and delayed events, and to fill the broadcast schedule Iger's team focused on human interest stories such as those of the Jamaican bobsled team and Eddie the Eagle. The event achieved record-high ratings for ABC, and Iger's performance under pressure caught the attention of ABC executives Daniel Burke and Thomas Murphy, who subsequently championed Iger throughout his ascent at ABC.[21]
In 1989, he was named head of ABC Entertainment, green lighting shows such as Twin Peaks, America's Funniest Home Videos[22] and Cop Rock.[23][24] He served as president of the ABC Network Television Group from January 1993 to 1994, and was appointed as Capital Cities/ABC senior vice president in March 1993 and executive vice president in July 1993.[25] In 1994, Iger was named president and chief operating officer of ABC's corporate parent, Capital Cities/ABC.[26]
The Walt Disney Company
In 1995,[27] The Walt Disney Company purchased Capital Cities/ABC and renamed it ABC, Inc., where Iger remained chairman until 1999.[28][3]
On February 25, 1999, Disney named Iger the president of Walt Disney International, the business unit that oversees Disney's international operations, as well as chairman of the ABC Group, removing him from day-to-day authority at ABC. Disney called the change a promotion for Iger.[29]
Disney named Iger the president and chief operating officer (COO) on January 24, 2000, making him Disney's No. 2 executive under chairman and CEO, Michael Eisner. Disney had been without a separate president since Eisner assumed the role following the departure of Michael Ovitz in 1997, after sixteen months at Disney.[30]
In 2005 board members Roy E. Disney and Stanley Gold began a campaign called "save Disney" against Eisner.[31] As a result, Disney began a search for the next CEO to replace Eisner. On March 13, 2005, Disney announced that Iger would succeed Michael Eisner as CEO, and Iger was placed in charge of day-to-day operations, though Eisner held the title of CEO until he resigned on September 30, 2005.[32] In July 2005, Disney and Gold dropped the campaign and agreed to work with Iger.[33]
One of Iger's first major decisions as CEO was to reassign Disney's chief strategic officer, Peter Murphy, and disband the company's Strategic Planning division.[34] It was around this time Iger started to become known as "Bob" rather than "Robert".
On January 24, 2006, under Iger's leadership, Disney announced it would acquire Pixar for $7.4 billion in an all-stock transaction.[35] In the same year, Iger also re-acquired the rights to Walt Disney's first star, Oswald the Lucky Rabbit, from NBCUniversal by releasing sportscaster Al Michaels from ABC Sports to NBC Sports.[36]
In August 2009, Iger negotiated for Disney to acquire Marvel Entertainment and its associated assets for $4 billion. By 2014, Disney had grossed more than that amount at the box office through the Marvel movies.[37] On October 7, 2011, Disney announced that Iger would become chairman of the board, following John Pepper's retirement from the board in March 2012.[38]
In October 2012, Iger signed a deal with filmmaker George Lucas to purchase Lucasfilm for $4 billion. As a result, Disney acquired the rights to the Star Wars multimedia franchise and Indiana Jones.[39] In March 2016, Iger announced the opening of the $5.5 billion Shanghai Disney Resort later that year.[40]
Iger's contract as Disney's chairman and CEO was originally planned to run until June 30, 2018.[41][42] In March 2017, Disney extended Iger's term to July 2, 2019, and said he would serve as a consultant for the following three years.[43][44] In December 2017, Disney extended Iger's contract through 2021.[45]
In July 2018 Disney and 21st Century Fox shareholders approved a deal to allow Disney to purchase Fox assets.[46] The deal was finalized in March 2019.[47]
In April 2019, it was announced that Iger would depart from his position as CEO and chairman of Disney when his contract expired in 2021.[48][49] Iger resigned from Apple's board of directors on September 10, 2019, in order to avoid a conflict of interest as Disney and Apple prepared to launch competing streaming services Disney+ and Apple TV+.[50][51]
In September 2019, Iger released his memoir The Ride of a Lifetime.[52][10]
In 2020, Iger announced his intention to retire. On February 25 that year, the board of directors named Bob Chapek – then-chairman of Disney Parks, Experiences and Products – the new chief executive, while appointing Iger executive chairman (an ad hoc post) to oversee the transition.[53][54] In April however, the board unexpectedly extended Iger's mandate until the end of 2021, due to the COVID-19 pandemic.[55][56] On December 31, 2021, Iger stepped down and was succeeded by Susan Arnold as chair of the board.[57] However, on November 20, 2022, Chapek was ousted by the Disney board with Iger reinstated as CEO.[58] At the time of his rejoining Disney, Iger initially agreed to hold the post for two years while looking for a successor.[59][60] However, on July 12, 2023, Iger and Disney extended the contract until the end of 2026.[61][62]
Company boards
On November 15, 2011, Apple, Inc., led by CEO Tim Cook, named Iger to its board of directors. Iger was reportedly responsible for making Steve Jobs Disney's largest shareholder after its all-stock acquisition of Jobs' Pixar.[63] In September 2019, Iger resigned from his position on the board after Apple announced the pricing and release date of Apple TV+, a subscription streaming service which would compete with Disney+ upon its launch in November 2021.[64]
In October 2020, he became a director of the dairy-replacement startup Perfect Day (company).[65][66]
Iger joined the board of Genies, Inc. in March 2022.[67]
Personal life
Iger has been married twice. His first marriage to Kathleen Susan Iger ended in divorce.[68] They have two daughters. In 1995, Iger married journalist Willow Bay in an interfaith Jewish and Roman Catholic service in Bridgehampton, New York.[69]
According to Forbes, Iger's estimated net worth was about $690 million as of 2019.[70]
Politics
Iger has described himself as a political centrist. He previously identified with the Democratic Party.[71] In 2016, Iger switched his party registration from Democratic to independent.[1]
In May 2016, during a dispute over Disney Resort's low wages, Iger wrote in a Facebook post claiming that Disney had hired 11,000 new employees in the past decade at Disneyland, and 18,000 in the past 5 years in the U.S. Iger specifically targeted Vermont Senator, Bernie Sanders, who had been outspoken on the issue.[72] Disney settled with the Department of Labor and agreed to pay back wages the following year.[73]
Iger co-chaired a fundraiser for Hillary Clinton's presidential campaign on August 22, 2016.[74] He was named to President-elect Trump's Strategic and Policy Forum on December 2, 2016.[75] He resigned from the Forum on June 1, 2017, out of protest after President Trump withdrew the United States from the Paris Climate Agreement.[76]
Iger had considered running for president before and after the 2016 election as a Democrat, but ultimately decided against it.[77]
Accolades and recognition
In December 2019, Iger was named by Time as their Businessperson of the Year.[78] In 2020, he was inducted into the Television Hall of Fame.[79]
In September 2022, Iger was appointed an Honorary Knight Commander of the Order of the British Empire (KBE) by Queen Elizabeth II "for services to the UK/US relations".[80][81]
Controversies
In November 2017, Variety reported that Iger knew about a 2010 Oscar party where Pixar chief John Lasseter was seen "making out with a junior staffer", seeming to confirm anonymous allegations that Lasseter's inappropriate interactions with young women had been known to company leadership since the 1990s. One anonymous source was quoted as saying, "I know personally that Bob was aware. ... Everybody was aware. They just didn't do anything about it."[82]
In August 2019, Vanity Fair reported that actress Paz de la Huerta added Iger to her lawsuit against Harvey Weinstein over allegations of rape, claiming that he and previous CEO Michael Eisner "made a series of decisions that allowed a range of actions by Harvey Weinstein that unacceptably harmed certain employees".[83] Disney denied any knowledge of misconduct or settlements with victims during Weinstein's run at Miramax from 1993 to 2005.[82]
During a July 2023 interview on CNBC, Iger criticized the WGA and SAG-AFTRA strikes as "not realistic". He added that the unions "are adding to the set of the challenges that this business is already facing that is, quite frankly, very disruptive."[84] Iger's comments were widely criticized both inside and outside of Hollywood for being elitist and out of touch, with The Huffington Post writer Marina Fang noting Iger's $27 million annual salary that he received when rejoining Disney.[84]
Works
- Iger, Robert (September 23, 2019). The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company. Penguin Random House. ISBN 9780399592096. OCLC 1111242203.
References
- 1 2 Rutenberg, Jim (October 8, 2017). "For Disney's Iger, an Unlikely Political Turn". The New York Times. Retrieved October 9, 2017.
- 1 2 Adelman, Bob. Will Eisner: A Spirited Life (M Press, Milwaukie, Oregon, 2005), ISBN 1-59582-011-6, ISBN 978-1-59582-011-2, p. 351
- 1 2 3 Newcomb, Horace, ed. (2004). Encyclopedia of Television (2nd ed.). Routledge. p. 1168. ISBN 978-1579583941.
- ↑ "Disney - Leadership, History, Corporate Social Responsibility". The Walt Disney Company. Retrieved January 1, 2023.
- ↑ Zachary (November 21, 2022). "Robert A. Iger Appointed CEO by Disney Board of Directors". The Walt Disney Company. Retrieved November 21, 2022.
- ↑ "Bob Iger Talks Live Streaming for Disney's Channels". Jewish Business News. February 5, 2015. Archived from the original on August 6, 2016.
- ↑ Brook, Vincent (December 15, 2016). From Shtetl to Stardom: Jews and Hollywood: Chapter 1: Still an Empire of Their Own: How Jews Remain Atop a Reinvented Hollywood. Purdue University Press. p. 15. ISBN 9781557537638.
- 1 2 "Arthur L. Iger". New York City / Long Island: (Death notice) Newsday. May 25, 2010. Archived from the original on June 10, 2016. Retrieved March 3, 2017.
- ↑ "Miriam A. Iger". New York City / Long Island: (Death notice) Newsday. March 13, 2013. Archived from the original on September 10, 2016.
- 1 2 3 4 Dowd, Maureen (September 22, 2019). "The Slow-Burning Success of Disney's Bob Iger". The New York Times. Retrieved September 22, 2019.
- ↑ Robert Iger, interviewed by Christiane Amanpour on PBS's Amanpour & Co., September 30, 2019, re-aired November 30, 2019.
- ↑ "NYT Notices, Willow Bay and Robert Iger". NYT. 2008.
- ↑ Temple Avodah website: "Famous members - Robert Iger, President & CEO, Disney Corporation" Archived October 31, 2012, at the Wayback Machine retrieved October 11, 2012
- ↑ "Here's what 13 successful CEOs looked like in high school | Financial Post". Business Insider. December 14, 2013.
- ↑ Whitehouse, Beth (July 23, 2013). "Disney CEO Robert Iger helps his LI elementary school get playground". Newsday. Retrieved April 16, 2015.
- ↑ "Ithaca College Alumnus Bob Iger Named Marketwatch CEO of the Year". Ithaca College. 2006.
- ↑ "Disney Press Release". May 4, 2015. Retrieved June 20, 2016.
- ↑ Barnes, Brooks (April 10, 2010). "Is Disney's Chief Having a Cinderella Moment?". The New York Times. Retrieved April 16, 2015.
- ↑ "Robert Iger biography". referenceforbusiness.com. Retrieved July 26, 2018.
- ↑ "Looking Beyond the Mouse". The Economist. January 26, 2006.
- ↑ Iger, Robert (2019). The Ride of a Lifetime: Lessons in Creative Leadership from the CEO of the Walt Disney Company. London: Transworld Publishers Ltd. pp. 29–32. ISBN 978-1-78763-047-5. OCLC 1138608550.
- ↑ "Bob Iger". Time. Retrieved April 4, 2022.
- ↑ Iger, Robert (2019). The Ride of a Lifetime. New York: Random House. pp. 40–43. ISBN 9780399592096.
- ↑ Carter, Bill (March 24, 1989). "ABC Names Its President of Entertainment". The New York Times. ISSN 0362-4331. Retrieved December 7, 2017.
- ↑ Lowry, Brian (July 27, 1993). "ABC ups Iger, regroups divisions". Variety. Retrieved May 19, 2015.
- ↑ "C-SPAN Biography of Mr. Robert A. Iger". C-SPAN.org. Retrieved July 8, 2016.
- ↑ Gara, Antoine. "Disney's 1995 Deal For ABC Made Buffett Billions By Marrying Mickey Mouse With SportsCenter". Forbes. Retrieved November 9, 2020.
- ↑ "A look at Bob Iger's legacy at Disney as he steps down as CEO". CNBC. February 25, 2020. Retrieved April 4, 2022.
- ↑ Weinraub, Bernard (January 25, 2000). "Disney Names New President In Reshuffling". The New York Times. Retrieved May 22, 2010.
- ↑ Goldsmith, Jill (January 24, 2000). "Iger tapped No. 2 as Mouse TV booms". Variety. Retrieved June 7, 2014.
- ↑ "Disney launches more anti-Eisner sentiment". www.bizjournals.com. Retrieved November 29, 2018.
- ↑ Ahrens, Frank. "Disney Chooses Successor to Chief Executive Eisner". Washington Post. Retrieved August 16, 2017.
- ↑ Gentile, Gary (July 9, 2005). "Roy Disney, Company Resolve Their Disputes". The Washington Post. ISSN 0190-8286. Retrieved November 29, 2018.
- ↑ Burt, Tim (March 27, 2005). "Disney demotes chief strategic officer". Financial Times.
- ↑ La Monica, Paul R. (January 25, 2006). "Disney buys Pixar". money.cnn.com. Retrieved August 16, 2017.
- ↑ "How ESPN swapped Al Michaels for a cartoon rabbit". ESPN.com. Retrieved November 30, 2018.
- ↑ Weisman, Aly (August 6, 2014). "Bob Iger: The Marvel Brand Is On Fire". Business Insider Australia. Retrieved May 21, 2016.
- ↑ "The Walt Disney Company Extends Contract to 2016 for Robert A. Iger" (Press release). The Walt Disney Company. Retrieved October 8, 2011.
- ↑ Leonard, Devin (March 8, 2013). "How Disney Bought Lucasfilm—and Its Plans for Star Wars". Bloomberg. Retrieved May 21, 2016.
- ↑ Miller, David (March 8, 2016). "Disney's Bob Iger discusses Shanghai resort, 'Star Wars' and ESPN at media conference". Los Angeles Times. Retrieved May 21, 2016.
- ↑ Graser, Marc (October 2, 2014). "Bob Iger to Remain Disney Chief through 2018". Variety. Retrieved October 8, 2014.
- ↑ Fritz, Ben (October 2, 2014). "Disney Extends CEO Bob Iger's Contract Until 2018". The Wall Street Journal. Retrieved October 8, 2014.
- ↑ "Disney extends CEO Iger's contract by a year to July 2019". Reuters. March 23, 2017. Retrieved March 23, 2017.
- ↑ Kilday, Gregg (March 29, 2017). "Disney's Dilemma: Can Bob Iger Ever Find a Successor?". The Hollywood Reporter.
- ↑ James, Meg; Faughnder, Ryan (December 14, 2017). "Disney extends CEO Bob Iger's contract through 2021". Los Angeles Times. Retrieved March 29, 2019.
- ↑ Castillo, Michelle (July 27, 2018). "Disney receives shareholder approval to buy Fox assets". CNBC. Retrieved November 30, 2018.
- ↑ Romano, Nick. "The end of an era: Disney's acquisition of 21st Century Fox is finally complete". EW.com. Retrieved March 29, 2019.
- ↑ Tyko, Kelly; Keveney, Bill (April 11, 2019). "Disney CEO Robert Iger announces 2021 retirement". USA TODAY.
- ↑ Villasanta, Arthur (April 11, 2019). "Disney CEO Bob Iger Will Step Down By 2021, Succession Process Underway". International Business Times.
- ↑ "Disney CEO Bob Iger resigns from Apple board as companies come into conflict on streaming". CNBC. Retrieved September 13, 2019.
- ↑ Barnes, Brooks (September 13, 2019). "Iger Departs Board of Apple, Disney's New Streaming Competitor". The New York Times. Retrieved September 15, 2019.
- ↑ "The Ride of a Lifetime". Penguin Random House. Retrieved September 22, 2019.
- ↑ Mucha, Zeina; Singer, Lowell (February 25, 2020). "Bob Chapek Named Chief Executive Officer of The Walt Disney Company". The Walt Disney Company.
- ↑ Goldsmith, Jill; Hipes, Patrick (February 25, 2020). "Disney Names Bob Chapek CEO As Bob Iger's Successor; Iger Becomes Executive Chairman Through 2021". Deadline.com. Retrieved February 25, 2020.
- ↑ "Bob Chapek Named Chief Executive Officer of The Walt Disney Company - The Walt Disney Company". The Walt Disney Company. February 25, 2020. Retrieved January 18, 2022.
- ↑ Chan, J. Clara (December 2021). "Disney Names Susan Arnold to Succeed Bob Iger as Chair of Board". The Hollywood Reporter. Retrieved January 18, 2022.
- ↑ Patten, Dominic (November 21, 2022). "Disney Shocker! Bob Iger Back As CEO, Bob Chapek Out". Deadline. Retrieved November 21, 2022.
- ↑ "Disney: Bob Iger returns to head the entertainment giant". BBC News. November 21, 2022. Retrieved November 21, 2022.
- ↑ "Bob Iger on Ron DeSantis, Gambling, and Making Job Cuts at Disney". Time. April 13, 2023. Retrieved July 1, 2023.
- ↑ Delouya, Samantha (July 12, 2023). "Disney extends CEO Bob Iger's contract through 2026 | CNN Business". CNN. Retrieved July 13, 2023.
- ↑ Jefferson, David; Long, Mike; Quadrani, Alexia (July 12, 2023). "The Walt Disney Company Board Of Directors Extends Robert A. Iger's Contract As CEO Through 2026". The Walt Disney Company. Retrieved July 13, 2023.
- ↑ "Disney Chief Bob Iger Joins Apple Board". The Hollywood Reporter. Retrieved November 30, 2018.
- ↑ Leswing, Kif (September 13, 2019). "Disney CEO Bob Iger resigns from Apple board as companies come into conflict on streaming". CNBC. Retrieved November 7, 2023.
- ↑ "Disney's Bob Iger invests in animal-free dairy startup Perfect Day". Reuters. October 21, 2020. Retrieved March 14, 2022.
- ↑ "Bob Iger goes from managing Mickey to directing a milk replacement startup as new Perfect Day boardmember". TechCrunch. October 21, 2020. Retrieved March 14, 2022.
- ↑ Weprin, Alex (March 14, 2022). "Bob Iger Getting Into the Metaverse Business". The Hollywood Reporter. Retrieved March 14, 2022.
- ↑ "Kathleen Iger and Jarrod Cushing". The New York Times. September 25, 2005.
- ↑ "Willow Bay And Robert Iger". The New York Times. October 8, 1995. Retrieved February 13, 2014.
- ↑ Berg, Madeleine (May 2, 2019). "Bob Iger Rebuilt The Magic Kingdom—And It's Likely Made Him Richer Than A Disney Heir". Forbes. Retrieved September 2, 2021.
- ↑ "Disney's Former C.E.O. Gave Me the Exit Interview I Asked For". The New York Times. January 27, 2022.
- ↑ Byers, Dylan (May 25, 2016). "Bob Iger fires back at Bernie Sanders: 'How many jobs have you created?'". CNN. Retrieved June 7, 2018.
- ↑ "Disney reaches agreement on pay practices with US Department of Labor | U.S. Department of Labor". www.dol.gov. Retrieved February 14, 2022.
- ↑ "Hillary Clinton Fundraisers Coming to Beverly Hills". The Beverly Hills Courier. August 3, 2016. Archived from the original on February 25, 2022. Retrieved August 5, 2016.
- ↑ "Disney's Bob Iger named to Donald Trump's new President's Strategic and Policy Forum". Los Angeles Times. December 2, 2016.
- ↑ Stedman, Alex; Johnson, Ted (June 1, 2017). "Disney CEO Bob Iger Resigns From Trump's Advisory Council Over Paris Accord Decision". Variety. Retrieved June 2, 2017.
- ↑ Swisher, Kara (January 27, 2022). "Disney's Former C.E.O. Gave Me the Exit Interview I Asked for". The New York Times. Retrieved February 19, 2022.
- ↑ Buscombe, Belinda (December 11, 2019). "Bob Iger Is Time's 2019 Businessperson of the Year". Time. Retrieved December 11, 2019.
- ↑ Hipes, Patrick (December 3, 2019). "TV Academy Hall Of Fame Adding Bob Iger, Geraldine Laybourne, Seth MacFarlane, Jay Sandrich & Cicely Tyson". Deadline Hollywood. Archived from the original on January 22, 2015. Retrieved December 3, 2019.
- ↑ "Honorary awards to foreign nationals in 2022". GOV.UK. September 23, 2022. Retrieved September 24, 2022.
- ↑ "Queen's final knighthoods go to Williams and Iger". BBC News. September 26, 2022. Retrieved September 27, 2022.
- 1 2 Gene, Maddaus; Lopez, Ricardo (November 28, 2017). "Disney Faces Daunting Questions in Wake of John Lasseter, Harvey Weinstein Scandals". Variety. Retrieved May 25, 2021.
- ↑ Bradley, Laura (August 28, 2019). "Disney, Bob Iger Added to Paz de la Huerta's Harvey Weinstein Lawsuit". Vanity Fair. Retrieved May 25, 2021.
- 1 2 Fang, Marina. "Disney CEO Earning About $27 Million A Year Calls Strike By Writers And Actors 'Disturbing'".