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Disney seeks strategic partner for ESPN
Mint Mumbai
|July 14, 2023
Walt Disney will likely seek a strategic partner in its ESPN sports business, but is considering selling off other traditional TV assets, Chief Executive Robert Iger said.
In an interview with CNBC on Thursday, Iger said the entertainment company's legacy TV networks, including ABC and FX, "may not be core to Disney" and could be unloaded as the traditional television model continues to be upended by streaming.
The announcement came after the company said it would extend Iger's contract through 2026. "We just have to be open minded," Iger told CNBC journalist David Faber in an interview from Sun Valley, Idaho, where Iger is attending a business conference. The distribution and business model that underpins traditional TV "is definitely broken and we have to call it like it is," he said.
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