Iger said the moves announced today cumulatively reflect a new era in the company’s transformation over the past two decades. The first was a period of rapid growth in its core IP that saw Disney acquire Pixar, Marvel and Lucasfilm. The second, from 2016, was the lead-up to Disney’s acquisition of 20th Century Fox and subsequent foray into streaming with the launch of ESPN+ and Disney+.
The booming parks and resorts division, which includes cruise ships and consumer products, remains as is. With linear networks in decline and the cost of sports rights on the rise, ESPN has been a target of Disney investors like Third Point’s Daniel Loeb, who said it should be spun off but later retracted that opinion, given its “potential as a stand-alone business and another vertical for Disney to reach a global audience to generate ad and subscriber revenues.”
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