Disney CEO and Apple board member Bob Iger earlier this week purchased $1 million worth of shares of the iPhone maker, just one week after exercising an option on a million shares for $17.9 million. The move is seen as an attempt by the Disney executive to show confidence during a period of sell-offs one analyst described as “insane”.
Iger joined Apple’s board of directors a year ago and is credited with healing wounds between the two companies when his predecessor Michael Eisner led the studio. The executive purchased $1 million worth of Apple stock at the time, then worth near $375 per share. Under Iger, Disney has been a loyal supporter of Apple, permitting movies on iTunes during a time when other Hollywood content owners avoided Steve Jobs… Read More