Disney's CEO Bob Iger is leaving Apple's board of directors, some say because Disney's streaming service will compete directly with Apple TV+.
Bob Iger, the chairman and CEO of Disney, apologized Thursday after the company fined an elementary school in California for screening “The Lion King” remake in November.
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Emerson Elementary screened the remake during a parent-teacher association event, designed to fund supplies and other needs. Tickets were advertised on Eventbrite with a suggested donation of $15, per SFGate.
Last month, Movie Licensing USA, a licensing firm that represents Disney, notified the school that it violated copyright law by playing the movie for a crowd without a license, asking the school to pay a $250 fine.
CALIFORNIA SCHOOL FINED FOR SCREENING DISNEY’S ‘LION KING’
After the company received backlash on social media -- including from local politicians -- Iger tweeted an apology on behalf of the company and promised to donate to the fundraiser himself.
“Our company @WaltDisneyCo apologizes to the Emerson Elementary School PTA and I will personally donate to their fund raising initiative,” Iger wrote.
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It is unclear how much Iger plans to donate to the fundraiser. Disney did not immediately respond to FOX Business’ request for comment by the time of publication.
The school’s event raised a total of $800, but the PTA president told Fox 40 earlier this week that they intended to pay the fine.
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“If we have to fork over a third of it to Disney, so be it. You know, lesson learned,” PTA President David Rose told the station.
The Walt Disney Company, including both its entertainment properties and its park operations, has a market capitalization greater than $238 billion, according to Forbes.
Per copyright law, movies cannot be displayed outside of a home to an audience without a $250 single-use permit.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIS | WALT DISNEY COMPANY | 142.62 | +1.25 | +0.88% |
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This report contains material from previous FOX Business stories.
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Disney CEO Bob Iger apologizes to school for ‘Lion King’ screening fine - Fox Business
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