Bob’s back. Can he bring the magic?

Despite having Bob Iger’s return on our 2022 bingo card, the move came as a surprise Sunday night when it was announced by Disney’s board.

Iger held the top role at Disney from 2005 to 2020, and led the acquisitions of Pixar ($7.4B), Marvel ($4B), Lucasfilm ($4B), and 21st Century Fox ($71.3B).

In the short time Iger was away, he invested in and advised hot content startups like Genies, Funko, and Canva.

• Iger chose Bob Chapek to fill his shoes in February 2020. Since then, Chapek’s faced PR crises and has struggled to move Disney+ toward profitability.

One person upset about the news: Netflix CEO Reed Hastings. “Ugh. I had been hoping Iger would run for President. He is amazing,” Hastings tweeted.