Business Highlights: OPEC output cut, WWE joining UFC and the stocks mixed performance were the main topics of last week. Oil output cuts by major producers such as Saudi Arabia, the United Arab Emirates, Kuwait and others could cause prices to rise and benefit countries like Russia. WWE is also joining forces with the company that runs Ultimate Fighting Championship to create a $21.4 billion sports entertainment company. Tesla CEO Elon Musk had threatened to take away Twitter’s blue check marks unless they started buying a subscription, but the deadline has passed and they remain. McDonald’s has also closed their offices temporarily ahead of layoffs, and Twitter’s policies are also changing in relation to blue checks. Lastly, stocks ended the week with a mixed performance as the jump in oil prices caused inflation fears.
The Walt Disney Company is one of the largest media and entertainment conglomerates in the world. Founded in 1923 in California by Disney brothers Walt and Roy, Disney is well known for its iconic films such as Snow White, Cinderella and Frozen, as well as its theme parks and streaming services such as Disney+, ESPN+ and Hulu.
Bob Iger is an American media executive who has served as chairman and chief executive officer of The Walt Disney Company since 2005. Over the years, Iger has seamlessly integrated the formerly separate Disney and Pixar animation units, acquired Marvel Entertainment, LucasFilm and 21st Century Fox’s entertainment divisions, and launched the Disney+ streaming service in 2019. Iger has won numerous awards during his tenure and was named executive of the decade in 2009 by Adweek.