By Rick Aristotle Munarriz
It's a story that Bob Iger probably doesn't tire of telling. Addressing the audience at the Bear Stearns 20th Annual Media Conference, the Disney (NYSE: DIS) CEO was asked about the challenges he faced when he took the helm at the family-entertainment giant.
It was a tough time for Disney. Outgoing chieftain Michael Eisner was leaving on a sour note. The Internet seemed to be more of a threat than an opportunity. And the animation studio's reputation was crumbling, just as Pixar was heading for the door.
Yet in a sense, Iger was blessed. He was making his way toward the big chair at a company in flux. Making the right choices would help cement his footing and silence the critics who believed that Disney settled when it hired him internally.