Disneyland is Closed. It's Only the Fourth Time in 60 Years.
Story about Disney and it's giving new opportunities to others as we'll discover later in the week we're to start by updating a story. We ran earlier this month about Disney CEO. Bob Iger stepping down. He handed the reins to Bob Shape. It who until then had been in charge of running the theme parks. We knew shape would face many challenges but even on March second when we first ran history no one dreamed of the obstacles. He would be facing. Today Disneyland closed. Its doors a week ago. Saturday as a production time the company planned to keep Disneyland closed through the end of the month. Disneyworld in Florida and Disney's Paris resort have also been close in Sunday march fifteenth. It's only the fourth time in Disney's history that the original California theme park has been closed since its birth in nineteen fifty five. The first time was for National Day of mourning after the assassination of President John F Kennedy in November nineteen sixty three. It stayed open every single day for the next thirty one years not closing again until the northridge earthquake shattered. The city's Com in Nineteen ninety-four. Even then it was only partially closed. The third closure comes as little surprise. Disneyland didn't open on September Eleventh. Two thousand one after hijackers attacked the World Trade Center and the Pentagon. Here's our story from March second about Bob? Agar's Legacy Bob Shapes Future Disney big news on February Twenty Fifth Disney CEO. Bob Iger step down from his post effective immediately. Yeah it had been rumored for years that the longtime well respected executive would retire sometime. But the announcement suddenness reportedly surprised employees and industry executives according to C. N. N. It also shocked investors the announcement on a random Tuesday. One analyst said was stunning. The share price sank on the news even more sharply than the rest of the market which was already in freefall because of Corona virus fears. Agar's replacement Bob Shaping twenty-seven-year-old Disney veteran. Since two thousand fifteen is run Disney's parks and resorts division. He'll have Gargantuan shoes to fill. Bob Eiger is known as a fearless risk taker a guy who believes in the motto. Innovate or die. He's been at Disney for forty five years. It took the reins from Michael Eisner. Fifteen years ago then Disney was turning a profit of two and a half billion a year according to CNBC. Today it's more than ten billion not surprisingly share prices followed growing four hundred percent over fifteen years of managing the house of mouse that soaring profitability is typically credited to iger bonus as chief executive. He made enormous bets. Acquiring Lucasfilm Pixar Marvel and last year completing a seventy billion dollar acquisition of Twentieth Century Fox. The result Disney films dominated the box office last year. Grossing more than ten billion dollars according to CNBC if that wasn't enough eiger led Disney into streaming TV sinking billions into creating Disney plus. The twentieth century. Fox purchase helped fuel Disney plus by giving it a huge catalog of content. So too did move to take back. Disney shows that had formerly licensed to net flicks. Now it's fierce rival. The strategy seems to be working. Disney plus launched only three months ago in November. The company says it now has nearly thirty million subscribers. I grew is also known as charismatic. Outgoing executive who loves to HOBNOB The Wall Street Journal says not so much shaping who the New York Times describes his blunt business like and devoted to making his numbers but also quote in love with all things Disney. He has even been known to chat with Disney characters. As he walks through the resorts on shaping watch parks and resort profits grew every year for five years in a row mostly double digits. According to the journal the newspaper credits. The growth. To expansion of the Parks Chafiq Lead. Disney's new star wars