Marc Filippino

So Disney owns the TV channel ABC and ABC late night host Jimmy Kimmel and Trump.

They've been going back and forth since last year.

Disney temporarily suspended Kimmel's show in the fall after one of his jokes angered Trump, which brings us to the White House Correspondents Dinner in April.

What happened there?

Now, we should say that Kimmel defended his joke as satire.

Now, shortly after all this, the Federal Communications Commission launched a probe into Disney's broadcast licenses.

What grounds was that on?

DEI, as in diversity, equity, and inclusion efforts.

Ana, how worried is Disney that the federal probe will actually succeed?

What does this all mean, though, for CEO Josh DeMauro, who has spent years at Disney but only took over as CEO less than two months ago?

Do people feel like he can handle all this?

Right.

And we know we're talking about Iger here, who is the two-time former CEO of Disney.

Ana, is there any chance that DeMauro would pull Kimmel off the air again?

Or is the company preparing to fight back on the FCC probe?

That's the FT's Ana Nicolaou in New York.

Thanks, Ana.

Before we go, we told you yesterday that the war in Iran is creating a massive commodity shortage.

And in Asia, that means a plastic shock.

That's because the war has constrained supplies of the petroleum product naphtha.