The article reports that the financial situation of Disney has worsened, as the company's CEO, Bob Iger, recently revealed some alarming news. Disney, a renowned entertainment conglomerate, has been facing significant challenges due to the ongoing Covid-19 pandemic. The company's theme parks, cruise ships, and movie theaters have been severely impacted by lockdowns and social distancing measures.

The "bombshell news" shared by Bob Iger revolves around Disney's financial performance for the fourth quarter of 2020.

Iger announced that the company's revenue had dropped by a staggering 23% compared to the previous year. This decline is attributed to the continued closure of theme parks and reduced movie releases, resulting in a significant decrease in consumer spending.

In addition to the decline in revenue, Disney's net income also experienced a significant drop of 82%.

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