December 4, 2008
Disney wants its kingdom to grow in U.K., CEO says
The Walt Disney Co. is looking at possible acquisitions in the United Kingdom as the company wants to continue its global expansion, Chief Executive Officer Robert Iger said.
Iger, speaking Wednesday at a meeting with reporters in London, would not comment on whether the company is interested in ITV, the U.K.'s biggest commercial broadcaster.
"Hasn't everyone looked at ITV?" Iger said. Disney is "currently looking" at companies in several markets, including some in the U.K., he said.
Disney, which in August acquired parenting Web site raisingkids.co.uk to bolster its new U.K. family portal, is able to finance acquisitions despite the current woes in the credit market as the company has a "very strong balance sheet," Iger said. He said the U.K. is one of the "primary markets" in which Disney sees opportunities.
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Disney's business has been "quite resilient" amid the slowdown of the world economy, Iger said. The company benefits from a strong performance at its theme parks, the international nature of its business and a lower dependence on advertising sales than other media companies, he said.
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