Twitter, Facebook execs leave Disney board as company moves into streaming video


Disney is betting heavily on its upcoming streaming video platform, which may be making Silicon Valley a little nervous.

Two heavy-hitting tech executives have exited Disney’s board of directors, and its because the company’s streaming video plans will be a conflict of interest with their own companies.

Twitter CEO Jack Dorsey and Facebook COO Sheryl Sandberg have both decided against re-election to Disney’s board.

In a statement from Disney, it’s clear that the social media titans may be feeling the pinch from Disney entering into streaming video — an area that both Facebook and Twitter are aggressively pushing into.

From Reuters

“Given our evolving business and the businesses Ms. Sandberg and Mr. Dorsey are in, it has become increasingly difficult for them to avoid conflicts relating to board matters, and they are not standing for re-election,” Disney said in a statement.

Last year, it was rumored that Disney might seek to acquire Twitter, which has been losing users and revenue for quite some time. With Dorsey out, that looks less and less likely.

Disney has been ruffling feathers all over the social media and entertainment industries, announcing that it would be pulling all Disney content off of Netflix in the near future as it positions itself to compete directly against the (currently undisputed) streaming content giant.

The company has been making strategic alliances in Hollywood, seeking to acquire 20th Century Fox’s entertainment assets and opening up its Movies Anywhere platform to films from other studios.

It’s clear that Disney is in it to win it. And if they do, it will change the entertainment industry forever.

[Source: Reuters]

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