Yahoo News Bob Iger Taps Former Disney Execs Kevin Mayer, Tom Staggs to Advise on Legacy TV Assets
Disney CEO Bob Iger is bringing aboard former top studio execs Kevin Mayer and Tom Staggs to help advise on a possible sale of linear TV assets beyond ESPN, including the ABC broadcast network and the FX cable channel, The Hollywood Reporter has confirmed.
Mayer and Staggs, who founded Candle Media in 2021, offered no direct comment on any renewed ties with Disney. But it’s understood that they have been tapped separately and as consultants to work alongside Iger, ESPN chief Jimmy Pitaro and other Disney TV execs to figure out the studio’s legacy TV business amid a rapid shift to streaming platforms.
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Their deliberations follow Iger musing during a recent CNBC interview about Disney’s future in streaming as linear TV assets struggle amid headwinds from a soft advertising market and a consumer shift away from traditional cable TV packages.
Of Disney’s linear TV networks, Iger ventured, “They may not be core to Disney,” a Wall Street euphemism for, “They could be headed to the auction block.” The CNBC anchor then cited the ABC broadcast network and its local TV stations, as well as the FX cable channel, and asked Iger directly if they were for sale, and if they were not core to Disney.
“The distribution model, the business model that forms the underpinning of that business — and that has delivered great profits over the years — is definitely broken. And we have to call it like it is,” Iger responded, sparking speculation about possible linear TV asset sales.
The Disney boss also told CNBC he had held discussions with potential “strategic partners” for ESPN that could help the sports giant move to a direct-to-consumer model and stay under the Disney umbrella.
Mayer is usually in demand these days for his expertise in streaming, but his legacy TV credentials are underpinned by his experience at Disney. He launched Disney+, Disney’s flagship streamer, before being passed over to succeed Iger as CEO when he stepped down in 2020. Mayer segued to briefly running TikTok and was chairman of the sports streaming service DAZN before leaving that role in March 2023.
Now, with Iger having returned to lead Disney, he’s turned to Mayer as a trusted consultant, along with Staggs, another former top Disney exec. In 2021, David Zaslav tapped Mayer to consult on the future of streaming at Discovery — as it moved closer to merging with WarnerMedia to create Warner Bros. Discovery — as part of its own pivot from linear TV to the online video space.
THR understands that Mayer is still consulting for WBD as, similar to Disney, its legacy TV networks continue to face challenges due to cable-cutting and streaming platforms.
Puck was the first to report on the former Disney execs tapped to advise the studio on its linear TV businesses.
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