“That just seems really wrong to me” — Bob Iger Comments on DeSantis’ Actions Against Disney’s Reedy Creek

If you’ve been following Disney news recently, the Reedy Creek District has been at the forefront.

Recently, the new Board appointed by Florida Governor Ron DeSantis for Reedy Creek (now called the Central Florida Tourism Oversight District) found an agreement made by Disney and the former Board. The Board has since threatened lawsuits against Disney after saying the agreements strip them of most powers and an investigation has been ordered. Now, we’ve learned more about Disney CEO Bob Iger’s thoughts on the matter.

April 3rd is the date for Disney’s Annual Shareholder meeting, and this is the first one with Iger back in the position of CEO. These serve as a call for Disney to take questions and share exciting news about upcoming projects.

Alan Fischer from Ameriprise Financial asked, “What steps have already been taken or will be taken to protect shareholder value with regard to the legal battle between Disney and Ron DeSantis and the Reedy Creek Improvement District?” The shareholder seemed concerned for tax purposes. Iger responded by saying “let me address this issue.”

Iger goes on to say “we love the state of Florida, and I think that’s reflected in not only how much we’ve invested over the last 50 years, but how much we’ve given back in the form of jobs, and community service, taxes, tourism of course, and all sorts of other responsible business practices.”

“We’ve also always respected and appreciated what the state has done for us,” said Iger, when he then goes on to explain why Disney made a statement against the “Don’t Say Gay” bill in Florida. Governor Ron DeSantis and Disney have had a rocky relationship since the company spoke out about the “Don’t Say Gay” law in Florida in early 2022 — Iger also spoke against the law separately from Disney since Bob Chapek was CEO at the time.

Iger explains the situation from Disney’s side saying, “A year ago, the company took a position on pending Florida legislation, and while the company may have not handled the position it took very well, a company has a right to freedom of speech just like individuals do.” After Disney made these statements back in 2022, DeSantis started working on a bill to dissolve the Reedy Creek Improvement District and has continued to make moves in taking over the District. In Iger’s words, DeSantis “decided to retaliate against us, including the naming of a new board to oversee the property and the business, in effect to seek to punish a company for it.”

“That just seems really wrong to me”, Iger said.

To address the concern about taxes that was brought up, Iger mentioned that Disney is currently planning to invest $17 billion into Disney World over the next 10 years. These investments are estimated to create 13,000 new jobs and thousands more indirect jobs. He says this will also “attract more people to the state and generate more taxes.”

Closing out his response to this question, Iger said “any action that thwarts those efforts, simply to retaliate for a position a company took sounds not just anti-business, but it sounds anti-Florida. And I’ll just leave it at that.”

Another related question was asked later on in the meeting — “Is it wise for the company to take political positions…to satisfy a very small portion of people when our primary mission is entertainment, not education?”

In response, Iger acknowledged that there are grey areas here, but he doesn’t think Disney “should or can weigh in on every issue.” Iger strongly feels that “we alone have to determine whether, when, or how to weigh in on an issue” and “when we take a position on those matters, there’s a true reason why we have.” Iger confirmed that in almost all cases, Disney will speak out if it directly impacts “our business or our people.”

We’ll be sure to keep you updated on the latest with Reedy Creek and any other major Disney updates, so stay tuned.

“We Won’t Back Down” — New Reedy Creek Board Member Comments on Battles With Disney