Disney evaluating traditional TV business, CEO says
Disney CEO Bob Iger says the company may offload ABC, ESPN and other parts of its traditional TV business.
The Walt Disney Company ($DIS) is an American mass media conglomerate that owns broadcast television, cable television and radio networks; theme parks, movie studios and the Disney+ streaming app. Its properties include ABC, 21st Century Fox, FX and Disney Plus. It co-owns cable sports channel ESPN with Hearst Communications.
Disney CEO Bob Iger says the company may offload ABC, ESPN and other parts of its traditional TV business.
American media firms are taking a bigger slice of the European TV market, with several companies listed among the largest owners of channels and streaming services.
Disney has agreed to license older TV comedies, thrillers and dramas to Channel 4 for its streaming service.
Trolls and extremism gave Disney CEO Bob Iger pause on the company’s planned acquisition of Twitter.
The announcement comes several months after Skyview suffered from a cyberattack that left it unable to distribute ABC Audio content for weeks.
ESPN has laid off nearly two dozen of its on-air broadcasters, including well-known analysts, as part of a broader cost-cutting move.
National Geographic has released its team of nearly 20 staff writers, and will rely on freelancers as it continues to publish the magazine in print.
The 2023 NBA Draft telecast on ABC and ESPN grabbed nearly 5 million combined viewers, not including streaming.
The executive is taking a permanent leave of absence due to a family issue; Kevin Lansburry will serve as interim CFO.
Disney will shut down six TV channels in Southeast Asia that it acquired from Fox several years ago, as it pushes viewers toward Disney Plus and Hotstar.