Disney CEO Bob Iger said laying off Isaac “Ike” Perlmutter, the Chairman of Marvel Entertainment, was “a necessary step” in building a more efficient company. During an interview with TIME, Iger also explained how the decision to shut down Marvel Entertainment was motivated by the “redundancy” in Marvel management.
Last month, as part of Disney’s plan to cut $5.5 billion in costs, the company announced it would shut down the Marvel Entertainment division and lay off Perlmutter. The former chairman of Marvel Entertainment had been part of the company for decades, helping Marvel to avoid bankruptcy in 1997 and being essential for the deal that would result in Disney buying the comic book brand. However, after creating Marvel Studios as the cinematic arm of Disney's profitable superhero franchise, Perlmutter tried to extend his reach beyond Marvel Entertainment, which almost resulted in Marvel Cinematic Universe producer Kevin Feige being fired. Perlmutter also actively worked against the development of movies featuring female and Black protagonists, so we can’t say we are too sad to see him go.
Nevertheless, as controversial as Perlmutter could have been, Iger underlines how the decision to shut down Marvel Entertainment was motivated by simple management reasons. As Iger puts it, “This was a necessary step in the direction of us creating a more efficient company. There was redundancy specific to the way Marvel was being managed.” Before being shut down, Marvel Entertainment was charged with running consumer products separately from Marvel Studios. Now, the former small division’s former tasks were absorbed by the overarching Disney structure, while Marvel Studios keeps moving forward with the ambitious cinematic universe.
Ike Perlmutter Is Not the First Marvel Big Shot to Be Axed
Disney's attempts to cut costs have also led to executive producer Victoria Alonso leaving Marvel Studios last month. Alonso was part of the MCU since its inception, helping to forge 2008’s Iron Man. According to Disney, Alonso was reportedly forced to leave due to a breach of contract, which the producer denies. Instead, Alonso says she was fired after daring to criticize Disney. Whatever the truth might be, it’s clear that Disney is trying to streamline the entire company, which will reportedly lead the company to eliminate 7,000 jobs.
Disney's cut-costing measures have also affected some of the company’s leading franchises. For instance, Lucasfilm’s Willow was canceled after only one season, and the studio was reportedly asked to focus on more Star Wars content. Considering how much new Star Wars content was announced last week during the Star Wars Celebration, it would be fair to assume Disney will keep investing mainly in the IPs that are most certain to turn a profit.
As we learn more about Disney’s restructuring, you can expect to read all about it here at Collider. Check out our most recent interview with Feige below:
