Walt Disney Co. said Thursday it has extended the contract of Chairman and Chief Executive Bob Iger through December 2021, locking in a 16-year run leading the Burbank entertainment juggernaut.
The move, which had been expected, came as Disney announced its $52.4-billion deal to buy much of 21st Century Fox’s media assets. It appears to rule out a presidential bid by Iger — at least for 2020 — which some observers had been anticipating.
An extended tenure for Iger was expected in order to give the company stability as it integrates Fox’s assets. Given the lengthy regulatory review the deal is sure to face, it will take 12 to 18 months to close, the company said.