WHEN: Today, Monday, July 27th
WHERE: CNBC's "Squawk Box"
Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with The Walt Disney Company CEO Bob Iger on CNBC's "Squawk Box" (M-F, 6AM-9AM ET) today. Following are links to video from the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000400855, http://video.cnbc.com/gallery/?video=3000400875 and http://video.cnbc.com/gallery/?video=3000400909.
All references must be sourced to CNBC.
IGER ON ESPN
I THINK EVENTUALLY ESPN BECOMES A BUSINESS THAT IS SOLD DIRECTLY TO THE CONSUMER. WHERE THERE IS AN ENGAGEMENT IN THAT ESPN WILL KNOW WHO THEIR CONSUMERS ARE, WILL USE THAT INFORMATION TO CUSTOMIZE THEIR PRODUCT, ENABLE PERSONALIZATION, TO ESSENTIALLY ENGAGE IN A MUCH MORE EFFECTIVE WAY AND ALSO, TO OFFER ADVERTISERS MORE VALUE AS WELL.
IGER ON TECHNOLOGY AS A FRIEND
ITS EASY TO LOOK AT ANY DISRUPTIVE FORCE AS A COMPLETE THREAT. AND TECHNOLOGY IS DEFINITELY THE MOST DISRUPTIVE FORCE THAT SO CALLED TRADITIONAL MEDIA – WHETHER YOU ARE IN RADIO, WHETHER YOU ARE IN NEWSPAPERS, MAGAZINES, TELEVISION, IS FACING. NO QUESTION ABOUT IT. I DECIDED, AND WE DECIDED AS A COMPANY, TO VIEW TECHNOLOGY AS A FRIEND NOT A FOE.
IGER ON CHIEF TECHNOLOGY OFFICER
INSTEAD OF CREATING ONE CTO AT DISNEY, BECAUSE OUR BUSINESSES USE TECHNOLOGY IN SO MANY DIFFERENT WAYS, AND I DIDN'T WANT TO BUREAUCRATIZE IT OR CORPORATIZE IT, IF THAT IS EVEN A WORD. SO I KEPT THE TECHNOLOGY OWNERSHIP IN EACH OF THE BUSINESSES AND I USE MYSELF AS, NOT QUITE THE CTO – I THINK THAT WAS A LITTLE EXAGGERATED, BUT AS SORT OF THE TRAFFIC COP AND WHERE I FORCE PEOPLE TO GO THROUGH INTERSECTIONS TOGETHER AND NOT NECESSARILY GOING AT ONE ANOTHER. AND ITS WORKED WELL.
IGER ON ACQUIRING A TECHNOLOGY OR SOCIAL MEDIA COMPANY
I WOULDN'T RULE IT OUT, BUT I DON'T THINK YOU SHOULD TAKE THAT TO MEAN THAT WE ARE LOOKING AT DOING THAT. OUR CIV IN TERMS OF ACQUISITIONS HAS PRETTY MUCH BEEN IN THE DIRECTION OF OUR STRATEGIC PRIORITIES, WHICH IS LET'S BUY CONTENT, HIGH QUALITY BRANDED CONTENT – MARVEL, PIXAR, LUCAS, OBVIOUSLY GOOD EXAMPLES. LET'S BUY TECHNOLOGY WHERE IT GIVES US AN ADVANTAGE, WHERE WE CAN USE IT TO DO THE THINGS I TALKED ABOUT EARLIER AND LET'S BUY THINGS THAT GIVE US A BETTER OR LARGER GLOBAL FOOT PRINT.
IGER ON CHINA
WE OPENED UP A NEW DISNEY STORE IN SHANGHAI A FEW MONTHS AGO. I WAS THERE THE WEEK BEFORE LAST, STILL DOING EXTREMELY WELL. WE HAVEN'T OPENED THE THEME PARK YET, SO WE DON'T FULLY KNOW, BUT THE RESEARCH THAT WE HAVE DONE SO FAR SUGGESTS THAT THE CHINESE CONSUMER IS NOT REALLY – IN TERMS OF ITS BEHAVIOR – INDICATING THAT THERE IS AN ISSUE WITH THEIR MARKETS.
IGER ON INVESTING IN CHINA
WERE GOING ALL OUT IN CHINA WITH SHANGHAI DISNEYLAND, SHOULD OPEN IN ABOUT A YEAR. WE BELIEVE IN THAT MARKET FOR A DISNEYLAND BIG TIME, OBVIOUSLY. WE THINK IT'S PROBABLY THE MOST EXCITING OPPORTUNITY THE COMPANY HAS HAD IN A LONG TIME AND DEFINITELY THE MOST EXCITING OPPORTUNITY WE'VE EVER HAD OUTSIDE THE UNITED STATES.
IGER ON INTELLECTUAL PROPERTY THEFT
IN TERMS OF THEFT OF INTELLECTUAL PROPERTY, IT CONTINUES TO BE A PROBLEM. THERE IS A MOVIE THAT HAS BEEN RELEASED IN THE CHINESE MARKETPLACE THAT LOOKS AND FEELS VERY, VERY MUCH LIKE THE MOVIE "CARS" THAT PIXAR CREATED A FEW YEARS AGO. THAT'S A PROBLEM. BUT IT'S NOT THE KIND OF PROBLEM THAT IS GOING TO AFFECT OUR THEME PARK BUSINESS OR OUR VIEW ABOUT INVESTING IN CHINA.
IGER ON ABC
ABC IS STILL AN IMPORTANT BUSINESS FOR US. ITS A VERY HEALTHY CONTENT CREATION BUSINESS. WHETHER YOU ARE TALKING ABOUT THE PROGRAMMING THAT WE OWN AND PRODUCE IN PRIME TIME OR ABC NEWS, IT'S A PROFITABLE BUSINESS. IT'S A BUSINESS THAT WE ARE PROUD TO BE IN AND IT'S STILL IN MY HEART, YOU KNOW.
JOE KERNEN: SHRINKING, THOUGH ISN'T IT?
IGER: WELL, IF YOU LOOK AT THE SIZE OF THE COMPANY, BECAUSE THE COMPANY HAS GROWN, PARTICULARLY GIVEN THE ACQUISITIONS AND GROWTH IN INTERNATIONAL MARKETS, YOU KNOW, THERE ARE A FEW OF OUR BUSINESSES THAT DON'T LOOM AS LARGE AS THEY ONCE DID, BUT THAT DOESN'T MEAN THEY'RE NOT IMPORTANT.
IGER ON CONSUMER PRODUCTS
THE CONSUMER PRODUCTS BUSINESS THAT WE HAVE, WHICH IS TRULY GLOBAL, HAS BECOME A VERY BIG BUSINESS FOR US AND IT IS A BIG PART OF STAR WARS. AND ONE OF THE REASONS THAT WE WERE SO INTERESTED IN IT IS IT HAD THE PROFILE OF MANY OTHER DISNEY BUSINESSES AND MARVEL, FOR INSTANCE. CONSUMER PRODUCTS IS IMPORTANT, BUT THE MOVIE HAS TO BE GOOD, TOO. ITS PROBABLY THE MOST IMPORTANT. IT STARTS WITH THE MOVIE.
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