Bob Iger didn't name the film, but it was thought to be Pirates of the Caribbean: Dead Men Tell No Tales.
But now Iger has told Yahoo Finance: "To our knowledge we were not hacked."
"We decided to take [the threat] seriously but not react in the manner in which the person who was threatening us had required."
But, he added: "We don't believe that it was real and nothing has happened."
Iger had told employees earlier this month that the hackers had demanded the ransom in bitcoin and that they would release the film online in a series of 20-minute chunks unless it was paid.
The Disney boss was keen to stress how technology has benefitted Disney but also said it also presented significant challenges to the film industry.
"In today's world, cyber security is a front burner issue," he said.
"We like to view technology more friend than foe... [but] it is also a disruptor."
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You may remember Disney's boss revealing that hackers had threatened to leak one of the studio's new films unless it paid a ransom.