Disney CEO Robert Iger Buys $1 Million of Apple Stock
NEW YORK - Walt Disney CEO Robert Iger has spent $1 million to buy Apple stock in a symbolic expression of confidence in the technology company's outlook, Reuters reported.
Iger bought 2,670 Apple shares this week at an average price of $375 each, according to a regulatory filing.
The news comes after Apple recently added the Disney boss to its board of directors and named Arthur Levinson chairman following the death of company founder Steve Jobs.
Jobs was a Disney board member and the entertainment company's largest shareholder following Disney's acquisition of Pixar in 2006.