I point this out because of either Valliant Renegade’s or WDW_Pro’s point (forget which) that Iger does not want to sell off the big properties he bought — LucasFilm, Marvel, Pixar, and even Fox, as a whole — because the selling price will be much, much lower than the purchase price. This would expose him as rube who consistently overpaid for other people’ successful studios to cover-up Disney’s own struggling creative output. And it would also confirm everyone’s strong suspicion that all of these properties are worth only 25-50% of what was paid for them, and therefore maybe all of Disney is similarly only worth 25-50% of the current market valuation.

He can’t afford to sell anything that people know a recent purchase price for. He can only sell things acquired long ago (ABC) or which have never been sold on their own as standalone units (FX, FXX).

But he will never sell anything that he over-paid for. He cannot afford to let the world know, in stark mathematical terms, just how poorly he’s run Disney these past eight years.

[Interesting point. Iger has tried to make Disney’s failures as much about Bob Chapek as possible, but that excuse will wear thin, probably sooner rather than later. The strikes might give Iger more cover than accountability for a short while too, but that’s not going to last forever. — Ed]