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Disney CEO: Complications of trade dispute between the United States and China would be & # 39; short-lived & # 39;



Any problems that US companies enter into China as a result of an ongoing trade dispute between the two nations will be short-lived, according to Walt Disney Co.'s chief executive.

"There is still much that we do not know. We do not know where it all will end. Where it is now, it is not good," says CEO Bob Iger to FOX Business. [19659002] "I'm not losing sleep over it. But it's probably something I look forward to and think of the things that I should be concerned about or at least focused on would be one of them," he added.

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A collapse in trade negotiations between the Trump administration and President Xi Jinpsi government has US companies preparing long-term tensions with China, including the possibility that the Asian nation may seek to retaliate against US companies operating in the country.

Disney has not yet seen a significant impact as a result of the trade conflict, but potential problems may arise in the future, including China, calling back the number of American films they allow in the country, according to Iger.

"If things get even more acrimonial, it's possible that we will pay the price, to say it," he said. "If something happens and there are some tensions that cause some business problems, my guess is that they will be shorter."

Ticker Security Last Change % Chg
DIS WALT DISNEY COMPANY 1
31.57
-1.05 -0.79%

] China remains an important market for Disney.

The company collaborates with Guangzhou-based NetEase to create a slate new entertainment offering including games and TV shows based on the Marvel universe.

It also invests heavily in Shanghai Disney, including a new themed land based on the animated movie "Zootopia."

"When you go there, if you are from China, you immediately respect what is because it doesn't feel like just Disneyland … it feels like their Disneyland," Iger said.

However, attendance at the amusement park has suffered in recent quarters. Higher ticket sales in the second quarter of 2019 helped to compensate for lower traffic, which resulted in a flat result compared to the previous year. Iger told previous investors that the company does not publicly discuss the potential for another location.

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And the country is still a critical source of movie revenue.

While box office earnings fell 9 percent in 2018, Disney saw success with "Avengers: Endgame", one of the highest-ever movie films from all the time in China and the most successful foreign film.


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