Disney CEO Bob Iger (DIS), at Morgan Stanley's media and telecom conference, claimed he's trying hard not get distracted by the fight with activist investor Nelson Peltz. In addition, Iger made comments about the other Disney groups, including narrowing the focus on superhero content from Marvel and focusing on quality over quantity.

Yahoo Finance Reporter Alexandra Canal joins the Live show to break down the latest comments from Iger and what it could mean for the company moving forward.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Nicholas Jacobino

Video Transcript

JOSH LIPTON: Disney CEO Bob Iger is looking to keep his focus on turning around the business even with activist investor pressure hanging overhead. Yahoo Finance's senior reporter Alexandra Canal here with the very latest.

ALEXANDRA CANAL: Yeah. So this is a Morgan Stanley media and telecom conference out in San Francisco. We've heard from a fair amount of media executives, but everyone was excited to see what Disney CEO Bob Iger would have to say here, because Disney has been in the news a lot lately, especially as it relates to these activist fights.

Bob Iger not mincing words, saying he does not want this to distract from the core of the business. He said, quote, "I'm working really hard to not let this distract me, because when I get distracted, everyone else gets distracted. That diverts the focus of the company and we really need to be focused in order to deliver shareholder value."

He pointed to the complexities of Disney's business overall. You have multifaceted segments. You have a lot of those segments undergoing severe pressure like streaming. He said it's not only a business that takes a significant amount of knowledge, but it also takes a significant amount of focus. So he's really just concentrated on the issues at this company.

And there are quite a few right now. We have studio output not performing as well as expected. We have a slowing parks business. The stock has recovered from those multi-year lows since Nelson Peltz first launched that proxy fight. But there are still a lot of overhanging issues that shareholders have questions with. And the proxy battle is certainly a distraction, not only for Iger, but I also think a distraction on the part of shareholders as well when they're trying to parse through this company and really what the future holds moving forward.

JULIE HYMAN: Yeah. And one of the other things that he addressed during the conference is something that I, even a Marvel fan like myself, has experienced, which is Marvel fatigue, right, that there's just so much content out there.

ALEXANDRA CANAL: Yeah. And he's admitted that there has been an overproduction of content. And this stems back from when Disney Plus first debuted. They really wanted to pump out as much content as possible, create a lot of Marvel shows, create a lot of Star Wars shows. Then it led to this Marvel fatigue.

But he did press back against that, saying that he doesn't think consumers have fatigue when it comes to certain really good shows. That's what he said. He said, if a movie is good, if a show is good, people will come out and see it.

JULIE HYMAN: Right. But not everything has been equally good.

ALEXANDRA CANAL: Exactly. And I think that's his point. There's been a missing link here. There's a missing-- there's a lack of creativity, that's the word he's continuously used. And he even said that they had to go back and scrap certain movies and projects. He said they haven't been public about that, but that they've really been trying to parse through their catalog of content and make sure that they're not just releasing movies and TV shows just for the sake of releasing movies and TV shows.

So we'll see. They do have a significant slate coming out in the back half of this year. We have the "Moana" sequel. We have "Kingdom of the Planet of the Apes" coming out as well.

JULIE HYMAN: It's all sequels.

ALEXANDRA CANAL: Again, it's all sequels. It's all franchises. But analysts have also said that's what the company needs.

JULIE HYMAN: I mean, listen, I'm going to watch the "Moana" sequel. Don't get me wrong.

ALEXANDRA CANAL: I think everyone will. Hopefully, the music is as good as the first.