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Disney CEO Bob Iger indicated to investors that the entertainment giant isn’t ready to back away from its escalating conflict with Gov. Ron DeSantis.
During a second-quarter earnings call, Iger said questions about risks to Disney’s future should be directed toward the state.
“Does the state want us to invest more, employ more people and pay more taxes or not?” Iger replied when asked how investors should view the short- and long-term impacts of DeSantis v. Disney.
The fight started after Disney opposed a 2022 state law that restricts instruction about gender identity and sexual orientation in schools. But it has mushroomed to include state and federal lawsuits related to a special district that has power over Disney property and a newly passed bill that would lead to state oversight of Disney’s iconic monorail system.
Most of the nearly one-hour earnings call involved the global company’s other properties and plans for its streaming platforms.
But when asked how investors should view conditions in Florida, Iger quickly defended a federal lawsuit the company filed in late April. He said the state is “retaliating against us for taking a position about pending legislation. And we believe that in us taking that position, we are merely exercising our right to free speech.”
Iger also questioned an assertion by DeSantis and others that a bill passed during a February special legislative session about the former Reedy Creek Improvement District was intended to create a “level playing field.” The bill gave DeSantis power to appoint leaders of the special district, which also was renamed the Central Florida Tourism Oversight District.
Iger acknowledged the Reedy Creek district, which was created in the 1960s and effectively gave Disney self-governance power, helped the company. But Iger said the state has also benefited as Disney pays more than $1.1 billion a year in state and local taxes, employs more than 75,000 people and plans to create another 13,000 jobs by investing $17 billion into Florida over the next decade.
Besides, Iger added, Disney isn’t the only beneficiary of a special taxing district.
“I mentioned 2,000 [special taxing districts],” Iger said. “The Daytona speedway has one. So does The Villages, which is a prominent retirement community. And there are countless others. So, if the goal here is leveling the playing field … then a uniform application of the law of government oversight of special districts needs to occur and be applied to all special districts.”
Jim Turner reports for the News Service of Florida.
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