Rumor: Disney Wants To Buy Netflix, Could Reed Hastings Replace Bob Iger As CEO?
By Jacob Hall/Nov. 14, 2016 12:00 pm EST
Anyway, Disney’s next step in becoming the domineering force of the dystopian future involves them possibly acquiring Netflix, a move that would be nothing short of huge for both companies.
The story comes our way via TechCrunch and while nothing is set in stone, it does indeed sound like all of the proper pieces are aligning.
In other words, it’s an increasingly busy market, a market where AT&T wants to buy Time Warner as part of an audacious plan to package all of their content into a service of their own while withholding it from others. Netflix’s film library has been dying for a reason – there are too many players for one streaming service to have everything. That’s why they’ve been doubling down on original content. Having a powerful corporate partner, someone to help foot the bill and supply them with shows and movies from their library to fill the gaps between new stuff and do battle with everyone else entering the space is the best way to stay ahead. Enter Disney, whose pockets are deep and whose film and television library rivals…well, just about everyone. Netflix gets a powerful partner. Disney takes an entrenched platform. Everyone wins.
The other interesting detail here is the suggestion that Netflix CEO Reed Hastings could step up and become CEO of Disney itself. Bob Iger, who has been Disney’s chief executive officer since 2005, is planning to retire in 2018 and the hunt for a suitable replacement has proven fruitless thus far. Hastings feels like an inspired choice on paper, the kind of guy who would understand the challenges facing the company in the years ahead. We’ll see how that shakes out.
For more details, I encourage you to check out the original story.
