Disney CEO resigns from Apple board as streaming TV battle steams up


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Disney CEO resigns from Apple board as streaming TV battle steams up

On Friday, the 13th of September 2019, the Cupertino-based iPhone maker, Apple Inc., the largest tax-payer in the United States, had issued a statement saying that the Chief Executive Officer of Walt Disney Co., Bob Iger, had resigned from Apple Inc.’s management board on September 10th, as the two companies were likely to compete head-to-head in a streaming TV industry battle in a near-term outlook.

In point of fact, the Walt Disney Chief Executive had departed from Apple Inc.’s board of directors at the same day when Apple Inc. revealed its new streaming TV service, Apple TV+, a $4.99 per-month service scheduled to be launched by November 1st, which would also be available free of cost for one year on every purchase of new iPhones or iPads, as the fourth-largest smartphone vendor, behind South Korea’s Samsung Electronics, China’s Huawei Technologies and Xiaomi, had been spending billions in Hollywood in a bid to secure a stack of Apple Original programs for its Apple TV+, an attempt identical to Netflix originals which had yet to conceive profits for the streaming media pioneer.

Meanwhile, addressing Bob’s departure as a great loss for the iPhone makers, Apple said in its statement later on Friday (September 13th), “While we will greatly miss his contributions as a board member, we respect his decision and we have every expectation that our relationship with both Bob and Disney will continue far into the future,” while Bob Iger had been quoted saying that it had been “an extraordinary privilege” for him to serve in Apple Inc.’s board for more than eight years.