Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies  >  All News

News : Companies
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors

Disney CEO Bob Iger resigns from Apple board as TV battle looms

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/14/2019 | 12:30am EDT
FILE PHOTO: European premiere of

(Reuters) - Apple Inc said on Friday that Walt Disney Co Chief Executive Officer Bob Iger had resigned from the company's board of directors on Sept. 10 as the two companies prepare to compete head-to-head in the streaming television business.

Iger departed Apple's board the same day the company revealed new details about Apple TV+, a $4.99-per-month service that will launch on Nov. 1. Apple is spending billions in Hollywood to secure original programming for the service.

The monthly subscription price for Apple TV+ undercuts Disney, which earlier this year announced its own streaming service that will feature its iconic children's content and cost $6.99 per month. The Disney+ service will debut on Nov. 12.

Apple and Disney have long had a unique relationship among major American companies, dating back to when Apple co-founder Steve Jobs became a Disney director and major shareholder when the entertainment giant bought Pixar, the digital animation studio majority owned by Jobs. Iger became an Apple director shortly after Jobs' death in 2011.

"While we will greatly miss his contributions as a board member, we respect his decision and we have every expectation that our relationship with both Bob and Disney will continue far into the future," Apple said in a statement.

Iger said it was "an extraordinary privilege" to have served on Apple's board for eight years.

"I have the utmost respect for Tim Cook, his team at Apple, and for my fellow board members," Iger said in a statement. "Apple is one of the world's most admired companies, known for the quality and integrity of its products and its people."

(Reporting by Arjun Panchadar in Bengaluru and Stephen Nellis in San Francisco; Editing by Maju Samuel and Daniel Wallis)

By Stephen Nellis

Stocks mentioned in the article
ChangeLast1st jan.
APPLE 0.45% 218.72 Delayed Quote.38.66%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Companies"
05:31aSOLAR INTEGRATED ROOFING CORPORATION : Completes Audit, Readies Up Listing of its Shares to the OTCQX
PR
05:31aGlobal Connected (Smart) Street Light Market 2019-2023 | Emergence of Smart Cities to Boost Growth | Technavio
BU
05:31aELLIPTIC LABS : ' AI Virtual Smart Sensor Empowers New Xiaomi Mi MIX Alpha
BU
05:30aCyber Resilience Think Tank Offers Latest Executive Insights for Reducing Security Complexity
GL
05:27aBANK OF CHINA : Letter to H-Share Holders-Means of Receipt and Language of the Bank's Corporate Communications
PU
05:27aMOSKOVSKAYA BIRZHA MMVB RTS : Change of lot size on negotiated deal boards
PU
05:27aDEUTSCHE BÖRSE : iSTOXX® Global Cities of Tomorrow Select 30 Index licensed to Citi
PU
05:27aINVITATION TO THE PRESENTATION OF ASSA ABLOY'S Q3 REPORT ON 18 OCTOBER STARTING AT 09 : 30 am (CET)
PU
05:27aGLOBAL BIO CHEM TECHNOLOGY : Inside information suspension of production of harbin dacheng and jinzhou dacheng
PU
05:26aWALL STREET STOCK EXCHANGE : AB InBev Asia unit raises $5 billion in revived Hong Kong IPO under shadow of protests
RE
Latest news "Companies"