Walt Disney Co explored a potential merger with Apple Inc during Bob Iger's tenure as CEO, a move that would have combined two of the world's most valuable companies. Iger disclosed in an interview with the Financial Times that while discussions took place internally and with Apple, the proposal never advanced because Apple did not demonstrate significant interest. Iger previously wrote in a memoir that he believed Apple and Disney would have merged if Apple co-founder and former CEO Steve Jobs was still alive. The revelation comes shortly after Iger stepped down from his second stint leading Disney, a period spanning from 2022 to 2026.

Failed Acquisition Targets

Beyond the Apple discussions, Iger detailed other major opportunities Disney evaluated but ultimately bypassed. The company considered acquiring social media platform Twitter for what Iger described as a "very attractive price." However, the deal was abandoned because Iger believed integrating the smaller platform would serve as a "horrible distraction" to the core business. Another high-profile asset on Disney's potential acquisition list was the James Bond franchise, which has since been acquired by Amazon.

Successful Acquisitions Under Iger

Despite the missed opportunities, Iger's leadership was defined by several transformative acquisitions that reshaped Disney's portfolio. These deals, executed between 2006 and 2019, provided the company with intellectual property that drove significant growth.

The acquisition of Pixar in 2006 was particularly pivotal, mending a strained relationship between the companies. Iger recalled that securing a deal to place Disney content on the video iPod was instrumental in winning over Pixar co-founder Steve Jobs, paving the way for the eventual purchase. The subsequent additions of Marvel and Lucasfilm, despite initial skepticism from investors and Hollywood insiders, are now regarded as highly successful moves that transformed Disney's business.

Strategic Impact and Future Positioning

The $71 billion acquisition of 21st Century Fox in 2019 remains a subject of debate, though Iger defends it as a critical step for Disney's future in streaming. The deal provided majority control of Hulu and a vast content library, positioning Disney as the number two global streaming competitor behind Netflix. Iger stated that the acquisition was essential for creating longevity and endurance for the company both as a brand and a business.

The Walt Disney Company and AMC Entertainment Holdings saw significant activity over the weekend as Toy Story 5 set box office records, providing a potential boost to shareholders. The film opened to $312 million globally, comprising $160 million domestically and $152 million internationally. This performance marks the highest global and domestic openings in the Toy Story franchise. It also represents the highest domestic box office opening of the year, surpassing The Super Mario Galaxy, which opened to $131.7 million. For Pixar, the film secured the second highest international opening ever, trailing Inside Out 2, and the second largest animated opening domestically, trailing The Incredibles 2 and its $182.7 million opening.

AMC Entertainment Holdings reported its busiest weekend of 2026 in the United States, driven by the release of Toy Story 5. The company welcomed over 4.8 million moviegoers globally from Thursday through Sunday, setting new 2026 U.S. attendance records alongside record admissions and food & beverage revenue. AMC CEO Adam Aron noted that the weekend marked the company's largest food & beverage revenue in the United States in more than a year, attributing the success to the theatrical event delivered by Disney and Pixar.

In contrast, Disney's Star Wars release, The Mandalorian and Grogu, underperformed expectations. The film opened with a domestic weekend of $98 million, the lowest in the franchise since Disney acquired Lucasfilm in 2012. It has since accumulated a domestic total of $172 million and a global total of $320 million. Barring a late surge, the film is set to become the lowest-grossing Star Wars release since the acquisition, trailing Solo: A Star Wars Story. Despite an estimated production cost of $165 million, the film's performance is viewed as a setback for the franchise's theatrical return.

Disney shares have faced volatility in 2026, currently down 7.1% year-to-date. The stock hit highs of $106 in April and $108 in May but has since fallen, remaining below its 52-week high of $124.69 set nearly a year ago. The company reported quarterly financials in early May, with earnings per share and revenue beating analyst estimates. Revenue in the Entertainment, Experiences, and Sports segments all rose on a year-over-year basis.

The mixed box office results from Toy Story 5 and The Mandalorian and Grogu could lead to more muted summer performance than initially estimated. Analysts anticipate pressure on upcoming releases, including Moana (live action) on July 10 and Avengers: Doomsday on Dec 18. Strong openings for these films are considered critical to reversing the stock's downward trend in 2026.

Box Office Performance