the billionaire Isaac Perlmutterwho in 2009 sold Marvel Entertainment to Disney and was still its president, has been fired by the entertainment giant as part of its current campaign to cut expenses, according to US media reports on Wednesday and confirmed by the company.
Perlmutter, 80, had allied last year with influential investor Nelson Peltz to try to force changes in the management of Disney, which he felt was spending too much money.
They finally ended that campaign last February when the company announced a plan to cut 7,000 jobs and save some 5,500 million dollars (about 5,073 million euros) in costs.
Disney has now begun to run those layoffs and Perlmutter has been one of the victims and Marvel Entertainment, the unit he presided over, will be integrated into another division of the parent company.
Related news
In 2015, Perlmutter had already been removed from the head of Marvel Studios, which is in charge of the films based on the publisher’s comics, and had been left solely in charge of other businesses focused on consumer products.
The businessman had arrived at Disney in 2009, when the company bought Marvel Entertainment for about 4,000 million dollars (about 3,600 million euros), a firm with which he had acquired bankruptcy years before.