Disney CEO: 'We were not hacked'

Nicole Sinclair
Markets Correspondent

Disney (DIS) Chairman and CEO Bob Iger said that recent reports that Disney was hacked were inaccurate.

“To our knowledge we were not hacked,” Iger told Yahoo Finance. “We had a threat of a hack of a movie being stolen. We decided to take it seriously but not react in the manner in which the person who was threatening us had required.”

Multiple outlets last week reported that Iger informed employees hackers had stolen a copy of the latest installment of Pirates of the Caribbean franchise, due out on May 26.

“We don’t believe that it was real and nothing has happened,” he said.

Iger added that “in today’s world, cyber security is a front burner issue.”

From “Pirates of the Caribbean: Dead Men Tell No Tales.” (IMDB/Disney)

Technology focus

While there are threats and challenges with technology, Iger added that it is a core value of the company.

“It’s also a disruptor,” said Iger, who also sits on the board of Apple (AAPL). “But we like to view technology more friend than foe. More opportunity than challenge. Technology is an enabler to run our businesses more securely, whether that’s protecting our intellectual property or protecting our guests or employees around the world.”

“[Technology is] a core strategic priority of mine next to creativity and growing globally,” Iger added. “Going all the way back to Walt Disney’s day, he appreciated the fact that he could use technology to make the stories that he told more compelling.”

Iger said Walt Disney’s creation of Disneyland in 1955 and the multi-plane camera to create a richness of animation and backgrounds are just some examples of the technology foundation of the company.

This has continued throughout the company’s films and parks, Iger said.

“Right now, we’re immersed in a world—Pandora—that’s just filled with technology. That technology is enabling us to give you a more memorable experience,” he said.

Disney CEO Bob Iger walks with Apple CEO Tim Cook during the annual Allen & Company Sun Valley Conference, July 6, 2016 (Photo by Drew Angerer/Getty Images)

Disney is also employing technology in its cable business.

“We’re also taking full advantage of emerging trends by investing in the technology we need to create subscription products that give consumers direct access to our content from our early investment in Hulu to our recent ownership stake in BAMTech, which will launch a new ESPN-branded service later this year,” Iger said on the company’s latest quarterly earnings conference call. “ESPN continues to lead the industry when it comes to creating innovative digital products.”

Nicole Sinclair is markets correspondent for Yahoo Finance

More from Yahoo Finance’s interview with Bob Iger:
Bob Iger tells us about Disney’s most ambitious project in years
Finding Disney’s next CEO is Bob Iger’s “number one priority”

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