Iger: Disney’s deal with DeSantis oversight district is ‘win-win’ for Orlando
Disney’s legal settlement with the Central Florida Tourism Oversight District is a “win-win” for future Disney World projects, CEO Bob Iger told shareholders on Wednesday.
“The agreement we reached with the Central Florida Tourism Oversight District last week will actually enable us to pursue the kinds of significant investment in our Florida parks,” Iger said in response to a question at the shareholders meeting in California.
“We achieved a win-win result with that deal in terms of our ability to pursue future development opportunities but also in terms of thousands of direct and indirect jobs,” he added.
The deal settles a lawsuit filed in state court. It says that development agreements approved by the Disney-friendly Reedy Creek board before the state takeover initiated by Gov. Ron DeSantis in February 2023 are null and void. A 2020 comprehensive plan will be in effect, and the district agreed to “consult with Disney” while reviewing and amending the plan.
DeSantis described the settlement as a victory for the state.
“A year ago, people were trying to act like all these legal maneuverings were all going to succeed against the state of Florida,” he said at a news conference in Orlando. “The reality is here we are a year later, and not one of them has succeeded.”
DeSantis also said his issues with the company stemmed from executives at Disney’s corporate headquarters in California, not those in Orlando, and that the expansion of Disney World would be good for the state’s economy.
DeSantis and the entertainment giant locked horns two years ago over a law that banned instruction about sexual orientation and gender identity in public schools, which critics dubbed “Don’t Say Gay.” Former Disney CEO Bob Chapek opposed the law, and the company stopped handing out campaign contributions in the state.
At the meeting, another shareholder asked when more would be known about the company’s unspecified plans to spend $60 billion at attractions worldwide over 10 years.
“We disclose these at a cadence and when we really feel we’re ready and we have something more tangible to show people,” Iger said.
Iger also pointed to recent additions at Walt Disney World, including attractions at Epcot, Hollywood Studios and Magic Kingdom theme parks.
His comments came after shareholders voted down efforts by activist Nelson Peltz and former Disney chief financial officer Jay Rasulo to be placed on the company’s board.
dbevil@orlandosentinel.com