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%. This decline is mainly caused by the losses incurred in its theme park division, as well as the reduction in advertising and sponsorship revenue. The company has been taking measures to mitigate the impact of the pandemic, such as implementing cost-cutting initiatives and focusing on streaming services like Disney+.

Despite these financial challenges, Bob Iger remains confident in Disney's long-term prospects.

He expressed optimism about the rebounding of theme parks and movie theaters once the pandemic subsides. The company is also strategically investing in new content and expanding its streaming services to position itself for future growth.

Overall, while the news reveals a grim financial situation for Disney, the company's leadership remains hopeful that they can navigate through these challenging times and emerge stronger in the future.