9/11/2022, 7:04 AM (Source: TeleTrader)
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ESPN to stay within Disney - CEO

The Walt Disney Company CEO Bob Chapek said on Sunday that sports network ESPN's "potential is within the Disney company." Third Point LLC CEO and CIO Daniel Loeb, a major Disney investor, called in August on the company to either sell or spin off the network.

The fact ESPN attracted a lot of outside interest for a potential acquisition "says something about its potential," Chapek told the Financial Times. The Disney chief underlined the company has a plan "that will restore ESPN to its growth trajectory."

Chapek noted Disney would "love" to buy Comcast Corporation's 33% stake in the Hulu streaming service, but added that "it takes two to tango." Netflix Inc.'s issues have hurt all streaming businesses, but Disney and Netflix are "not the same company," he pointed out.

Baha Breaking News (BBN) / MS