Disney CEO Bob Iger Calls Settlement of CFTOD Lawsuit a “Win-Win” Situation

During Disney’s 2024 Meeting of the Shareholders, Disney CEO Bob Iger called the settlement of the lawsuit against the Central Florida Tourism Oversight District a “win-win” situation, according to Deadline.

What’s Happening:

  • Last week, the Central Florida Tourism Oversight District Board voted on a settlement agreement with Disney.
  • As explained, this agreement states that development agreement and comprehensive plans passed by the Reedy Creek Improvement District in its final days are null and void.
  • Instead, the plan passed by the CFTOD would continue, although the District will consult with Disney and all appropriate parties regarding review of and potential amendments to the plan.
  • Also as part of the settlement, the claims and counterclaims in the state court lawsuit would be voluntarily dismissed with prejudice (meaning that these same claims cannot be refiled).
  • Disney CEO Bob Iger commented on the settlement Wednesday, calling it a “win-win” for Disney and the CFTOD.
  • Iger stated that the settlement “will actually enable us to pursue the kinds of significant investment in our Florida parks.”
  • During the long and highly publicized battle with Florida Gov. Ron DeSantis, Iger previously raised some doubts about the company’s continued investments in its Florida properties.
  • He also said that the investments will support “thousands of direct and indirect jobs and economic opportunity” in the state.
  • A separate federal lawsuit filed by Disney against the District and Gov. DeSantis is currently being appealed after an initial ruling against the company.
Luke Manning
Luke is a fan of all things theme parks and self-proclaimed #1 fan of Joffrey’s Coffee, who lives in Kissimmee, FL