Ron DeSantis Draws Disney CEO's Ire Over 'Don't Say Gay' Law Retaliation

Walt Disney Co. DIS CEO Bob Iger hit back at Florida’s Republican Governor Ron DeSantis on Monday for apparently retaliating against the entertainment behemoth.

What Happened: Iger said at the company’s annual shareholder’s meeting that though Disney may not have handled its position on Florida’s so-called “Don’t Say Gay” bill well, corporations have a right to air their opinions, reported Reuters.

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"To seek to punish a company for the exercise of a constitutional right, that just seems really wrong to me," said Iger.

The Disney CEO said that the company employs 75,000 people in Florida and 50 million visitors came to Disney World this year. He said Disney plans to spend $17 billion in Florida over the next decade and create 13,000 jobs, according to the report.

“These efforts simply to retaliate for a position the company took sounds not just anti-business, but it sounds anti-Florida," Iger said.

Why It Matters: In February, DeSantis signed legislation that would allow him to appoint a five-member board to administer government services that Disney provides at its theme park properties.

DeSantis’ move was construed as a punishment for Disney’s opposition to the Don’t Say Gay law, which prohibits teaching classes related to gender equality or sexual orientation to students in kindergarten through third grade.

On Monday, DeSantis urged an investigation into Disney’s alleged attempt to limit state oversight of the development at Disney World after the company approved a development agreement in early February that would allow it to bypass the new oversight board.

Price Action: On Monday, Disney shares closed 0.3% higher, at $99.81, in the regular session and declined 0.2% in the after-hours trading, according to data from Benzinga Pro.

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