Walt Disney CEO Bob Iger revealed on Thursday that there are no plans to rebrand or change the business operations of 20th Century Fox’s speciality division Fox Searchlight if and when Disney’s bid for 21st Century Fox assets scores regulatory approval.
Iger told shareholders gathered at Disney’s Annual Meeting in Houston: “We have every intention once the acquisition is approved to maintain the business of Fox Searchlight. We think they’re in the business of making high quality films… We don’t have any plans right now to change what they do. Frankly, we think they’re doing just fine.”
Fox Searchlight’s “Three Billboards Outside Ebbing, Missouri” and “The Shape of Water” dominated awards talk this year with the latter winning the Best Picture Oscar on Sunday. The company’s off-beat, independent and often R-rated output for discerning adults clashes with Disney’s family-friendly four-quadrant blockbuster heavy brand.