Disney, former CEO hit with lawsuit over streaming problems
The lawsuit, filed in federal court last week, alleges the company offered misleading statements about the health of its direct-to-consumer products.
The lawsuit, filed in federal court last week, alleges the company offered misleading statements about the health of its direct-to-consumer products.
Disney Plus subscribers largely stuck with the ad-free version of the service despite a recent price increase.
The Disney board of directors voted to replace CEO Bob Chapek with former CEO Robert Iger.
Disney’s chief executive said there are no plans to offer a cheaper, ad-supported version of Disney Plus in the future.
The Walt Disney Company’s family-friendly streaming service Disney Plus has eclipsed 100 million subscribers, the company said in a statement on Tuesday.
Company executives say thousands of people will lose their jobs by March 2021.
Executives said they were pleased with how Mulan performed, though they didn’t say how many subscribers paid the premium price tag for it.