… 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.

LucasFilm was worth 4 billion for Star Wars alone. It was not overvalued. Disney just beat it with a sledgehammer, and only now is it not worth even half what they paid for it.