Apple should not buy Walt Disney. Here's why.

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In
Disney

New book by CEO Bob Iger, The turn of a life, he makes the comment that his company might have merged with
Apple

if Steve Jobs was still alive. There is a logic in the idea. You may remember that Jobs was once the largest shareholder of Disney, a result of Disney's acquisition of Pixar in 2006.

In a blog post, media analysts Rich Greenfield, Brandon Ross and Mark Kelley of the new Lightshed Partners research company are embarking on a thought experiment: could the two giant corporations still meet and live happily ever after?

"We understand why Disney and Iger would have liked Apple to buy Disney, because that would have been the perfect" fairy tale "ending Iger's journey as Disney's president and CEO," write they. "Think about it from Disney's perspective: create the world's most popular content, brand and franchise collection and sell it to one of the world's most innovative technology companies who knows how to get married." hardware and software (content) better than any other company. . "

They then exploded the idea by offering a list of seven reasons why Apple (symbol: AAPL) is not interested in buying Disney (DIS).

1. Cord cut. The purchase of Disney would make Apple one of the largest cable network owners in the world, in addition to a major broadcast network on ABC. Analysts note that Apple CEO Tim Cook has repeatedly said that "the legacy package breaks down at an accelerated pace.

2. Exit window of the inherited movie. They note that Disney is engaged in the old school movie release window for new feature films, "while Apple is focused on breaking the legacy clutter."

3. Complex inherited licenses. Licensing agreements have slowed Disney's ability to offer the Disney + streaming network worldwide "and makes it more difficult for Hulu to expand overseas."

4. Regional sports rights. Analysts argue that it's much more logical for Apple to spend on original programming than to have "absurdly expensive" regional programming that is limited in scope.

5. Ambitious creations will always work for Apple. "Given the size of Apple's financial backing to fund original programming and the huge global base installed to promote the service, we expect Hollywood talent / projects to want to work with Apple, whether they acquire or not." a big studio, "they write.

6. Lack of interest in targeted advertising. Analysts note that while Disney is increasingly interested in advanced solutions to better target advertising on its linear and digital platforms, Apple is trying to make it more difficult to locate users of their devices and their targeting by ads.

7. Theme parks and consumer products are poorly adapted. "It's hard to understand why Apple would like to make lightsabers and princess outfits for retail," they write.

Analysts conclude: "We simply do not think that a Disney acquisition by Apple should or should take place."

Write to Eric J. Savitz at [email protected]