Disney laid off Marvel Entertainment chairman Ike Perlmutter this week, fourteen years after the executive helped sell Marvel to Disney.
Isaac “Ike” Perlmutter, long-time chairman of Marvel Entertainment, has reportedly been let go by Disney as part of the company’s first massive round of layoffs in 2023., Perlmutter was told by phone on Wednesday that Marvel Entertainment — a different division than Marvel Studios — was redundant and would be folded into larger Disney business units.
Dan Buckley, president of Marvel Entertainment, will stay on and report to Kevin Feige, but Disney also laid off Marvel Entertainment co-president Rob Steffens and chief counsel John Turitzin on Wednesday. More than 7,000 Disney employeesAfter taking control of the company in the 1990s, Ike Perlmutter sold Marvel to Disney in 2009 for $4 billion.
In recent years, Perlmutter has been a source of immense frustration within Disney. Last year, he reportedly contacted Disney board members and executives on multiple occasions in an attempt to get his friend, billionaire businessman and activist investor Nelson Peltz, on the board. When that failed, Peltz started a proxy fight with Disney, which ended a short time later when the company announced its wide-ranging restructuring plan.
By the end, Perlmutter’s purview was limited to comics publishing, game licensing, arena shows, and some consumer products.notes that comics generate $40-60 million in sales annually, while Disney’s total revenue in 2022 was $83 billion.
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