Paramount Global is often characterized as late to the party and at best an underdog.

It’s helpful perspective to compare then to how mammoth Disney is managing through its transitions.

By all accounts it’s continuing to flail, and Bob Iger’s tone-deaf mid-July public statements seem to be pouring accelerant on a reported dumpster fire of internal morale.

The adage regarding bad strategy executed by “generals fighting the last war” comes to mind. Bob Iger’s attempt to turnaround Disney is seeming a lot like Wellington’s infamous disasterous Crimean War strategy in the mid 19th century.

Many of Disney’s problems come with the territory of running a sprawling media conglomerate in 2023: The once-lucrative tent pole of linear TV is rapidly crumbling, while its theoretical replacement, streaming, is burning through cash. Interest rates are taking their toll. Audiences are growing bored with the seemingly unending number of superheroes, spinoffs and sequels from the vaunted studio…

Iger was already getting called out for attending the Sun Valley conference, a confab known as the “summer camp for billionaires,” after laying off some 7,000 people across the company to save money. But instead of laying low, Iger went on TV and, against the backdrop of idyllic Idaho mountains under a pink sky, absolutely wrecked his comms team’s week.

In the interview, Iger told journalist David Faber that Disney’s non-ESPN linear assets, which include ABC, the Disney Channel, FX and National Geographic, “may not be core,” and that the traditional TV business model was “broken.”