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Asharq Al-Awsat
Asharq Al-Awsat
Entertainment
Asharq Al-Awsat

Disney Lays off Chairman of Marvel Entertainment

Disney Marvel Entertainment Entertainment Nelson Peltz Isaac Ike Perlmutter Marvel Studios The New York Times
The water tower at The Walt Disney Co at the headquarters in Burbank, California, February 7, 2011. (Reuters)

Walt Disney Co has laid off Marvel Entertainment Chairman Isaac "Ike" Perlmutter as part of a cost-cutting campaign, a source confirmed Wednesday.

Perlmutter had supported activist shareholder Nelson Peltz's unsuccessful bid to obtain a seat on Disney's corporate board.

The executive was informed Wednesday that Marvel Entertainment, a consumer products unit run separately from Marvel Studios, would be merged into other Disney business units, according to the New York Times, which first reported Perlmutter's ouster.

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