New York (CNN Business) Disney CEO Bob Iger resigned from Apple's board of directors Friday, just as the two companies are becoming streaming media competitors.

Apple AAPL Netflix NFLX Disney's DIS on Tuesday announced the pricing and features of TV+ , the company's newcompetitor. It will cost $4.99 a month, $2 less thansoon-to-be-released Disney+ streaming product. Both TV+ and Disney+ will stream original television shows and movies to subscribers.

Disney CEO Bob Iger stepped down from Apple's board Friday.

It's common for executives to step down from boards when the companies they work for become rivals with the companies they direct. And with regulatory scrutiny of Silicon Valley heating up in general, it seems like a good time for the two sides to part ways. Apple's board was previously eyed by the Federal Trade Commission for its ties to competitors . Eric Schmidt, the former Google CEO, stepped down from Apple's board in 2009 after Google's Android became a viable competitor to Apple's iPhone and the agency raised questions about the relationship.

In Apple's previous regulatory filings about Iger, the company had noted Apple enters into "arms-length commercial dealings" with Disney, including content licensing agreements. But Apple said it didn't believe Iger had a "material direct or indirect interest" in those negotiations.

Iger had served on Apple's board since November 2011 , a month after former Apple CEO Steve Jobs died.

Read More