Will Disney's Stock Dive If ABC Cancels Kimmel? Mark Ruffalo Weighs In

This article delves into the recent controversy surrounding Disney's decision to suspend Jimmy Kimmel Live! due to pressure from the FCC and affiliate owners. The move has drawn criticism from several notable figures, including Marvel star Mark Ruffalo and fellow actor Tatiana Maslany, who have expressed their discontent with the implications for free speech and the entertainment industry.

Last updated: 25 October 2023 (BST)

Key Takeaways

• Mark Ruffalo and Tatiana Maslany have publicly condemned Disney's suspension of Jimmy Kimmel Live!
• The FCC's intervention is linked to Kimmel's comments about political figures.
• Disney's stock saw a notable decline following the news of Kimmel's show suspension.
• Several Hollywood figures are calling for consumer boycotts of Disney-related services.
• The situation highlights ongoing tensions between media companies and political pressures.

Background of the Controversy

In a surprising turn of events, Disney's parent company ABC has indefinitely suspended Jimmy Kimmel Live! following pressure from the Federal Communications Commission (FCC) and major affiliate owners. This controversial decision arose after Kimmel made a joke about former President Donald Trump, which was perceived as offensive to some political groups. The FCC chair, Brendan Carr, threatened action against the network, claiming that Kimmel's comments warranted a federal response.

FCC's Role in the Suspension

The FCC's involvement underscores the growing tension between media and political entities. Chair Brendan Carr noted in a podcast, “We can do this the easy way or the hard way,” indicating that Kimmel's jokes could have repercussions for ABC if not addressed. The FCC's stance reflects a broader concern over the content being aired on public platforms and the potential consequences of perceived bias.

Mark Ruffalo and Tatiana Maslany Speak Out

Mark Ruffalo, known for his role as the Hulk in the Marvel Cinematic Universe, took to social media to express his concerns regarding the suspension. He shared a report indicating that Disney's stock dropped by 7% following the decision. Ruffalo stated, “It’s going to go down a lot further if they cancel his show,” emphasising the financial implications of the move for Disney.

The Impact on Disney's Stock

Following the announcement of Kimmel's suspension, Disney's stock fell to £112 per share, a notable decrease from the previous average of £116. Although the stock began to recover slightly thereafter, the initial drop reflects investors' concerns about the company's direction and its handling of political pressures. This financial volatility is a significant indicator of the potential long-term effects of the decision on Disney's brand and reputation.

The Broader Hollywood Reaction

The entertainment industry's response has been swift and vocal. Tatiana Maslany, another prominent actor, has called for a boycott of Disney, urging consumers to cancel subscriptions to services like Hulu and Disney+. Pedro Pascal, known for his roles in various popular series, also expressed his support for Kimmel, emphasising the importance of protecting democracy and free speech.

Protests and Support from Guilds

In addition to the individual reactions, Hollywood guilds have voiced their discontent. Writers and actors have protested outside Disney's lot in Burbank, highlighting the industry's frustration with perceived censorship. The protests signify a significant shift in the entertainment community's stance on the interplay between content creation and political influence.

Statements from Industry Veterans

Former Disney CEO Michael Eisner condemned the decision as indicative of poor leadership within the company. Eisner's comments reflect a growing concern among industry veterans about the corporate governance at Disney and its long-term strategy in the face of political pressures.

The Role of Affiliate Owners

The suspension was not solely a result of FCC pressure; major affiliate-owned conglomerates like Nexstar also played a role. Nexstar's unilateral decision to pull the show for the “foreseeable future” raises questions about the influence of corporate interests on programming choices. With Nexstar eyeing a multi-billion-pound deal to purchase rival Tegna, the conflict of interest becomes evident.

Sinclair Broadcast Group's Position

Sinclair Broadcast Group, another major player in the national station landscape, has stated it will not lift the suspension until Kimmel apologises to Charlie Kirk's family and makes a “meaningful donation” to Kirk's conservative nonprofit, Turning Point USA. This demand for accountability illustrates the extent to which political affiliations may now dictate programming decisions.

What Happens Next?

The future of Jimmy Kimmel Live! remains uncertain as Disney navigates the fallout from this decision. The network faces a challenging landscape where political pressures and audience expectations collide. As public figures continue to rally against the suspension, the conversation around free speech in entertainment will likely intensify.

Implications for the Entertainment Industry

This controversy raises critical questions about the role of media companies in a politically charged environment. The potential for censorship and self-censorship could become a significant concern for creators and audiences alike. As the entertainment industry grapples with these challenges, the voices of actors and writers will play a crucial role in shaping the dialogue around content creation and corporate influence.

FAQs

Why was Jimmy Kimmel Live! suspended?

Jimmy Kimmel Live! was suspended due to pressure from the FCC and affiliate owners following a joke made by Kimmel about former President Donald Trump, which some deemed offensive.

What impact did the suspension have on Disney's stock?

Disney's stock dropped by approximately 7% following the announcement of Kimmel's suspension, reflecting investor concerns about the company's handling of political pressures.

Who else has spoken out against Disney's decision?

Alongside Mark Ruffalo and Tatiana Maslany, Pedro Pascal and Dan Gilroy have also publicly condemned Disney's decision, with calls for boycotts of Disney-related services gaining traction.

What did the FCC chair say about the situation?

FCC chair Brendan Carr stated that the network could either change its conduct regarding Kimmel or face further actions from the commission, indicating a serious stance on content regulation.

How have Hollywood guilds responded to the suspension?

Hollywood guilds, including writers and actors, have protested outside Disney's lot in Burbank, expressing their discontent with what they perceive as censorship and political influence in entertainment.

As this situation unfolds, the implications for free speech and corporate governance in entertainment will be closely monitored. How will Disney respond to the backlash, and what does this mean for the future of late-night television? #JimmyKimmelLive #MarkRuffalo #DisneyControversy