Disney Says No Decision On Divestitures; Confirms Seeking Options For Linear Businesses

RTTNews | 429 dni temu

(RTTNews) - The Walt Disney Co. (DIS) announced Friday that it "has made no decision with respect to the divestiture of ABC or any other property and any report to that effect is unfounded."

However, it added that it is open to "considering a variety of strategic options for our linear businesses."

Disney said it was responding to media reports regarding its linear businesses.

On Thursday, Disney initiated discussions about potentially selling its ABC network and associated TV stations. Local broadcaster Nexstar Media Group Inc. has expressed interest in acquiring the assets provided the price aligns with their strategic goals.

Tom Carter, former President of Nexstar and now an advisor, had indicated at a recent conference addressing investors that Nexstar could potentially acquire ABC with minimal divestitures required to meet broadcast station ownership limits.

Media mogul Byron Allen, known for his TV outlet ownership, has also engaged in discussions with Disney regarding a potential acquisition of these assets.

These discussions take place against the backdrop of Disney's strategic shift, prompted by changing consumer preferences. CEO Bob Iger had previously mentioned considering divestments of traditional TV networks due to declining viewership in favor of streaming services.

The future of ABC and its affiliated stations remains uncertain, with significant implications for all parties involved. There are complications from the fact that ESPN, Disney's sports network, shares many telecasts with ABC, posing questions about their future integration into the acquirer's assets.

Tagi: DIS

Disney To Stop Using Salesforce's Slack After Data Breach

Walt Disney Co. said it will no longer use Slack, owned by Salesforce, Inc., for in-house company communication after a data breach leaked company data to the public, reports said citing a company memo. Disney Chief Financial Officer Hugh Johnston stated that most of Disney's business units will move away from Slack usage by the end of next fiscal quarter.

RTTNews | 58 dni temu

Disney Pulls ABC, ESPN From DirecTV In Dispute

Walt Disney Co. has pulled its ABC stations, ESPN and other cable networks from DirecTV's offering after the companies failed to reach a new licensing agreement, impacting millions of customers. The entertainment major urged DirecTV to finalize a deal that would immediately restore the programming. Meanwhile, DirecTV blamed Disney for the dispute, noting that DIRECTV, DIRECTV STREAM, and U-verse

RTTNews | 76 dni temu

Disney Lifts FY24 Earnings Growth View As Q3 Beats Market; But Stock Drops

Media and entertainment major Walt Disney Co. on Wednesday raised its fiscal 2024 adjusted earnings growth target after reporting a significant profit in its third quarter, compared to prior year's loss. Adjusted earnings for the quarter also topped market estimates on higher revenues. Meanwhile, Disney shares were losing around 4.1 percent on the NYSE..

RTTNews | 102 dni temu

Disney's ESPN, FOX, Warner Bros. Discovery To Launch Streaming Sports Service

Media companies ESPN, a subsidiary of Walt Disney Co., along with FOX and Warner Bros. Discovery are joining together to launch a streaming sports service in the United States in the fall of 2024. The companies have reached an understanding on principal terms to form a new joint venture to provide sports content all in one place outside of the traditional bundle.

RTTNews | 284 dni temu

Disney Cancels Plans For New Florida Campus

Disney has canceled its plans to develop a new employee campus in Florida and to relocate thousands of employees in an apparent feud with Florida Gov. Ron DeSantis, reports said citing a memo to employees. Josh D'Amaro, chairman of Disney's parks, experiences and products division, said the decision was taken amid changing business conditions.

RTTNews | 548 dni temu

Disney To Cut 7,000 Jobs, Sees $5.5 Bln Cost Savings; To Reinstate Dividend

Walt Disney Co. announced plans to cut 7,000 jobs worldwide as part of its restructuring efforts to save billions in costs. The planned layoffs represent around 3.6 percent of Disney's global workforce. Chief Executive Officer Bob Iger, during the company's first-quarter earnings call, said the restructuring would help the firm save $5.5 billion in costs.

RTTNews | 647 dni temu

Disney, Chase, Visa Announce Multi-Year Extension For Disney Visa Card Programs

Chase, the largest co-brand card issuer in the U.S., The Walt Disney Co. (DIS) and Visa (V) on Thursday announced a multi-year extension of the Disney Visa Card, Disney Premier Visa Card and Disney Visa Debit Card programs.

RTTNews | 759 dni temu

Disney+ With No Ads To Now Come At $3 Premium Per Month

Walt Disney's streaming service Disney+ is rolling out its much-anticipated new ad-supported subscription plan for Disney+ in the U.S. as part of its bid to stem the loss and make its streaming business profitable after the services posted a hefty operating of loss more than $1 billion in the third quarter. It is also raising pricing for its bundled subscription plans with Hulu, ESPN+ and live TV.

RTTNews | 829 dni temu

EURUSD	1.05265	GBPUSD	1.26077	AUDUSD	0.6456
USDJPY	154.322	USDCAD	1.40888	USDCHF	0.8882