Iger Hammers Florida ‘Retaliation' on Disney's Earnings Call

Iger Hammers Florida ‘Retaliation' on Disney's Earnings Call

Bob Iger, CEO of the Walt Disney Company, reminded investors that it is not the only Florida business operating within a special area.

Florida Governor Rick Scott hasn't given the same attention to areas such as the Daytona Speedway or the Villages. Iger said that Ron DeSantis is the next Florida governor.

The CEO continued, "This is all about retaliation against us because we took a stand on pending legislation."

The Walt Disney Company

Bob Iger, CEO of Disney, reminded investors on Wednesday that it's not the only Florida business operating within a special districts.

He pointed out that Daytona Speedway, and The Villages retirement community are two of the nearly 2,000 districts in the State and were not subject to the same scrutiny as Disney in the past year.

During an earnings call, he stated that "the case we filed last year made our position and facts very clear." "And it's about one and only one thing, and that's retaliating to us for taking a stance about pending legislation," he said during an earnings call.

Last year, Disney came out in opposition to a Florida law that limited classroom discussions of sexual orientation and gender identity. Critics dubbed it "Don't Say Gay."

DeSantis’ office pointed CNBC to comments made previously by the governor.

The governor said: "You cannot have a situation in which the legislature has voted and a company decides to contract against the will the people."

During an interview with Newsmax, Friday.

They just need to realize that the party's over.

DeSantis will likely run for the Republican presidential nomination in 2024, even though he has been a distant second to fellow Florida resident and former President Donald Trump.

Disney has expanded its Disney Parks and Resorts.

federal lawsuit

Ron DeSantis accuses the Republican leader that he has intensified his "retribution" campaign against the company.

Signing legislation

to void Disney's development deals in Orlando.

Disney's amended suit also notes that Florida's

Republican-led Legislature

Last week, a bill was passed that targets Walt Disney World's monorail systems.

Iger responded to the "false story" that Disney was fighting DeSantis in order to protect tax incentives in the district. He claimed that the company was the biggest taxpayer in central Florida. It paid over $1.1 billion last year in state and local tax.

He said: "And we know that there was no concerted attempt to dismantle the Reedy Creek Special District until we spoke up on the legislation." "This is clearly a case of retaliation, while the other Florida special districts are operating as usual."

Iger stated that in order to "level the field" for all districts, the oversight must be implemented.

He added: "I think it's important to note that our primary goal was to be able continue doing exactly what we have been doing in Florida, which is to invest there." "We certainly did not expect to have to defend our interests in federal courts, especially with such a great relationship we've enjoyed with Florida for over 50 years."

Iger stated that Disney still plans on investing more than $17 Billion at Walt Disney World in the next decade. This would create 13,000 new jobs for the company, and even more tax revenue for Florida. More than 75,000 employees work for the company in the region.