I was watching this last night - will be very interesting to see how this plays out.
Summary of the speculation for the TLDW crew:
Some months ago Disney announce they are investing in crypto.
Disney CFO (Iger loyalist) invests very heavily in FTX since they were the darlings of the Democrat party. The extent is not disclosed to Chapek.
FTX collapses, Disney lose very big (big enough to impact cash flow).
CFO starts to panic, holds secret board meeting, gets board to agree to fire Chapek. However they cannot fire him with cause (since it will bring attention to the financial damage), so he is fired without cause (getting full severance bonuses), but made to sign NDA. Iger brought back in.
Disney needs to control the narrative to stop story getting out - put pressure on judge to suppress list of customers affected by FTX collapse, judge agrees (which is apparently very unusual for these type of bankruptcies).
Disney realizes story will come out eventually, start seeding stories that Chapek was cooking the books.
Disney see the only way out to cover up the damage is by having someone to buy them out - Apple is approached, offered the company for cheap. Deal is being brokered by Black Rock, who hold stakes in both Disney and Apple.
I was watching this last night - will be very interesting to see how this plays out.
Summary of the speculation for the TLDW crew:
Some months ago Disney announce they are investing in crypto.
Disney CFO (Iger loyalist) invests very heavily in FTX since they were the darlings of the Democrat party. The extent is not disclosed to Chapek.
FTX collapses, Disney lose very big (big enough to impact cash flow).
CFO starts to panic, holds secret board meeting, gets board to agree to fire Chapek. However they cannot fire him with cause (since it will bring attention to the financial damage), so he is fired without cause (getting full severance bonuses), but made to sign NDA. Iger brought back in.
Disney needs to control the narrative to stop story getting out - put pressure on judge to suppress list of customers affected by FTX collapse, judge agrees (which is apparently very unusual for these type of bankruptcies).
Disney realizes story will come out eventually, start seeding stories that Chapek was cooking the books.
Disney see the only way out to cover up the damage is by having someone to buy them out - Apple is approached, offered the company for cheap. Deal is being brokered by Black Rock, who hold stakes in both Disney and Apple.
The worst part about the theory is how ridiculous it would have sounded 7 years ago. Now...