Steve Jobs Is Re-Elected to Disney’s Board Despite Opposition

By

Disney is an entertainment giant. But with assets valued at a total of just (!) $81 billion, Apple could probably snap it up with the money Tim Cook uses to wedge his office door open with. There are people who will swear up and down that an Apple/Disney buyout makes perfect sense — particularly given Steve Jobs’ history as a major Disney shareholder.Recently Francis McInerney, a consultant at North River Ventures, called the deal “frighteningly obvious” and said that “the logic is so great this could happen tomorrow.” Rumors of an Apple/Disney merger go back at least as far as 1999 when it was reported that Disney planned to acquire both Apple and Pixar in a $12 billion stock swap, with Steve Jobs being ordained CEO of the mega-company. Since then, this rumor has come back with surprising regularity — although it’s unknown exactly why Apple would be interested in running theme parks and making animated movies.

Disney is an entertainment giant. But with assets valued at a total of just (!) $81 billion, Apple could probably snap it up with the money Tim Cook uses to wedge his office door open with. There are people who will swear up and down that an Apple/Disney buyout makes perfect sense — particularly given Steve Jobs’ history as a major Disney shareholder.

Recently Francis McInerney, a consultant at North River Ventures, called the deal “frighteningly obvious” and said that “the logic is so great this could happen tomorrow.” Rumors of an Apple/Disney merger go back at least as far as 1999 when it was reported that Disney planned to acquire both Apple and Pixar in a $12 billion stock swap, with Steve Jobs being ordained CEO of the mega-company. Since then, this rumor has come back with surprising regularity — although it’s unknown exactly why Apple would be interested in running theme parks and making animated movies.


Disney shareholders have re-elected Steve Jobs to the company’s board of directors, despite opposition from the AFL-CIO, the labor union federation.

As previously reported, the AFL-CIO opposed Jobs’s re-election because of his poor health and his job as CEO of Apple. The union argued that Jobs already had his hands full and advised shareholders not ro re-elect him.

Nonetheless, Jobs was re-elected on Wednesday at Disney’s annual shareholder meeting in Utah, according to Bloomberg.

With 7% of Disney’s stock, Jobs is the largest individual shareholder in the company. He has been a director at Disney since 2006, when Disney bought his other company, Pixar, for $7.4 billion.