Disney Lays Off Marvel Entertainment Chairman Ike Perlmutter!!

As part of their cost-cutting campaign, Disney has laid off Isaac “Ike” Perlmutter, the Chairman of Marvel Entertainment, according to the New York Times. Marvel Entertainment is a small division of Disney that runs consumer products separately from Marvel Studios, the division responsible for the Marvel Cinematic Universe. This Wednesday, Disney decided Marvel Entertainment was a redundant division that will now be folded into Disney’s largest business units.

Known for his ruthless approach to business, Perlmutter helped Marvel to avoid bankruptcy in 1997 while also playing a significant role in the deal that led Disney to acquire the comic book company in 2009. However, as crucial as Perlmutter could have been for Marvel’s survival a few decades ago, the executive was at the center of multiple controversies, including reportedly sexist, homophobic, and racist stances that prevented movies like Black Panther, Black Widow, and Captain Marvel from happening. In 2015, Perlmutter also tried to get Kevin Feige fired in a move to take control of Marvel’s filmmaking division. So, while cost-cutting was the official reason Disney had to lay off Perlmutter, the departure of the 80-year-old executive might put an end to some unwelcomed internal turmoil.

Disney shut down Marvel Entertainment just a few weeks after executive producer Victoria Alonso left Marvel Studios. Alonso, who was part of Marvel Studios since the release of 2008’s Iron Man and the inception of the MCU, was reportedly forced to leave due to a breach of contract. However, the producer’s representatives deny the claim and say she was shut down after criticizing Disney. Whatever the real reason, it seems clear that Disney is trying to clean the house and rethink how it manages its biggest IPs. The cuts shouldn’t stop there, though, as Disney’s plan to cut $5.5 billion will reportedly lead the company to eliminate 7,000 jobs.

How Disney’s Cut-Costing Measures Affect Your Favorite Franchise?

Disney’s latest restructuring has already affected some of the company’s biggest franchises. For instance, recently, Willow was canceled after only one season due to the show’s poor reception, despite the number of stars involved with the project. Lucasfilm was also reportedly asked to focus on more Star Wars content, which might lead to the cancellation of the previously announced Indiana Jones series.

The MCU should also be targeted during the restructuring, especially after Ant-Man and the Wasp: Quantumania failed to impress at the box office and is currently struggling to break even. Far from an odd case, Quantumania’s below-average reception reflects fans’ lack of confidence in the franchise after Avengers: Endgame. Not coincidently, Marvel Studios reportedly decided to push the release date of some of its Disney+ shows, hoping to rethink its worldbuilding strategy and ensure the MCU remains a healthy source of income for many years to come.

As we learn more about Disney’s restructuring, you can expect to read all about it here at Collider.


via Collider

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