CNBC reports:
Disney CEO Bob Iger opened the door to selling the company’s linear TV assets as the business struggles during the media industry’s transition to streaming and digital offerings. Iger appeared on CNBC on Thursday, the morning after the company announced it would extend his contract by two years through 2026.
Disney is going to be “expansive” in its thinking about the traditional TV business, leaving the door open to a possible sale of the networks. “They may not be core to Disney,” Iger said, adding the creativity that has come from those networks has been key for Disney.
Cable-TV channel ESPN is in a different bucket, however. On that front, Iger said Disney is open to finding a strategic partner, which could take the form of a joint venture or offloading an ownership stake.
Read the full article.
Linear TV refers to traditional non-streamed broadcast and cable channels. Disney also owns a majority stake in Hulu and is expected to buy out Comcast for full ownership.
Wow, Bob Iger says that ABC and the Disney cable channels “may not be core to Disney,” says they are taking an “expansive” view on what to do with linear businesses. Says ESPN is being viewed differently.
— Alex Weprin (@alexweprin) July 13, 2023
Bob Iger basically put a giant “FOR SALE” sign on Disney’s linear TV assets except for ESPN
— Tim Baysinger (@tim_bays) July 13, 2023