Disney Names Its Theme Parks Chief as Bob Iger’s Successor

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• 00:03

  Disney names its head of theme parks and cruise ships as the new successor to CEO Bob Iger.

• 00:18

  Plus, Walmart hits a $1 trillion market cap, while software stocks sell off.

• 00:24

  And the House votes to end the government shutdown.

• 00:26

  But for negotiations over immigration enforcement, it's just the start.

• 00:30

  It's Tuesday, February 3rd.

• 00:32

  I'm Alex O'Sullivan for The Wall Street Journal.

• 00:34

  This is the PM edition of What's News,

• 00:37

  the top headlines and business stories that move the world today.

• 00:46

  Disney has named Josh Damaro as its new CEO,

• 00:49

  putting the man who has been in charge of its theme parks and cruise ships atop America's best-known entertainment brand.

• 00:55

  I'm joined now by WSJ Entertainment reporter Ben Fritz.

• 00:58

  Ben, Damaro has worked at Disney for 28 years.

• 01:01

  He spent most of that time working on theme parks.

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  How does that prepare him for the CEO role?

• 01:07

  Well, theme parks have become Disney's most important business.

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  They now, together with Consumer Products, which Josh Damaro also oversees,

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  account for the majority of Disney's profits, which is a big change.

• 01:17

  It used to be television.

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  So he now knows very well the most important business for Disney.

• 01:24

  Obviously, Damaro has less experience in the entertainment side of Disney,

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