An anonymous reader quotes a report from Hollywood Reporter: Walt Disney CEO Bob Iger revealed Monday that hackers claiming to have access to a Disney movie threatened to release it unless the studio paid a ransom. Iger didn't disclose the name of the film, but said Disney is refusing to pay. The studio is working with federal investigators. Iger's comments came during a town hall meeting with ABC employees in New York City, according to multiple sources. The Disney chief said the hackers demanded that a huge sum be paid in Bitcoin. They said they would release five minutes of the film at first, and then in 20-minute chunks until their financial demands are met. While movie piracy has long been a scourge, ransoms appear to be a new twist. UPDATE: According to Deadline, the movie in question appears to be the upcoming film Pirates of the Caribbean: Dead Men Tell No Tales. Disney appears to be working with the FBI and will not pay the ransom.