In 2005, he made his first earnings call in the role of CEO. Bob IgerHe told his investors to tell them that he was directing their investments. Walt Disney The business would adopt a disciplined approach to acquisitions and seek out opportunities that help it adapt.

Two months later, he made the announcement that Disney was going to acquire Pixar Animation Studios at $7.4B.

Looking back, Iger — who stepped down from the top executive seat in 2020 — says he is most proud of this acquisition.

In an interview, he stated that he was proud of “a lot” of his decisions. “Squawk on the Street”CNBC David FaberThe program aired Tuesday. “Certainly, the acquisitions — I’d say of all of them — Pixar, because it was the first. It set us up for what I wanted, which was scale in storytelling. It was the most rewarding thing I have ever done.”

Anxious analysts were skeptical of Disney’s acquisition when it was first revealed. Many felt Disney paid too much to acquire the animation studio. Even Disney’s former CEO and board of directors questioned the multibillion-dollar deal.

Iger has been called a genius. Pixar’s “Toy Story” was released in 1995. It has achieved more than $14.7 Billion in global box office sales. Around $11.5 billion of that has come after Disney’s acquisition, Based on data provided by Comscore

Iger explained that the most important thing for him was to show everyone at Disney that this is a new day and that they are more open-minded to expanding, especially in terms of partnerships. The company’s most valuable strategy was creativity. Pixar was at the height of its creativity and original storytelling.

Pixar was acquired in 1994. Disney animation struggled to replicate the success of its animated films of the 1990s like “The Lion King”, “Aladdin”, and “Pocahontas.”

Pixar had a long-standing relationship with Disney, where they produced films such as “Toy Story”, “Monsters, Inc.” or “Finding Nemo” together and assisted with their distribution. Iger saw a company full of innovation and creativity that he could use to revitalize Disney animation.

Iger pointed out that Disney’s integration of Pixar in its business was exemplary. helped persuade other brand ownersYou can be sure that the legacy of their family will not disappear. Marvel is included. Lucasfilm. Iger played an important role in brokering this deal. acquire 20th Century Fox.

“You look at ‘Frozen’ and you look at ‘Moana’ and you look at ‘Zootopia’ and you look at ‘Wreck It Ralph’ and you look at ‘Tangled’ and the number of Academy Awards and the box-office success, and all of the IP that that created — generated,” Iger said. You know what? Everything we did at Disney animation was connected to Pixar’s acquisition.   

Disney stock closed Monday down 1.5% at $146.47 It has fallen more than 19% in 2021. This puts its market value at $266.23 trillion.

CNBC will air David Faber’s interview on Bob Iger throughout the day.