Disney Considers to Sell TV Networks
$Disney(DIS.US$Disney CEO Bob Iger has hinted at the possibility of selling part of Disney's stake in ESPN to a strategic partner, along with other linear TV networks such as ABC, FX, National Geographic, and Freeform.
This comes after Iger returned to helm Disney in 2022 following his resignation in 2020, and in the wake of a contract extension through 2026. Despite these developments, Disney has faced a decline in cable subscriptions and plans to lay off 7,000 employees, including several key figures at ESPN.
Iger admitted the disruption to the traditional TV sector is more severe than he expected - that just shows the speed and power of internet!
To adapt to these shifts, Disney is exploring partnerships aimed at enhancing ESPN’s streaming service through expanded distribution and content addition. Disney already manages streaming platforms ESPN+, Disney+, and Hulu. The company owns an 80% share in ESPN, with Hearst Communications holding the remaining 20%.
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NYJW : Traditional TV does not bring much benefit to revenue, should focus on streaming media![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Ziet Invests OP NYJW : Still got sizeable market share for ppl that prefers traditional TV, but that’s true, online streaming media is the present/future!
Perfectionist : Nice, sell one of the only solid parts of the company ESPN.