ESPN's Emmy Fiasco: Returning Awards And Cracking The Whip On Staff For Fake Submissions
Portfolio Pulse from Benzinga Neuro
ESPN, a subsidiary of The Walt Disney Co. (NYSE:DIS), is involved in a controversy over deceptive practices to win over 30 Emmy awards. The Athletic reported that ESPN submitted fake names to win Emmys since 2010, which were later reassigned to real on-air talent. The National Academy of Television Arts & Sciences (NATAS) discovered the scheme, leading to an investigation, the return of the awards, and disqualification of ESPN staff from future Emmys. ESPN has admitted to the error, disciplined those involved, and revised their submission process.
January 13, 2024 | 5:41 am
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The Walt Disney Co. faces reputational damage as its subsidiary ESPN is involved in an Emmy awards scandal, which could potentially affect investor sentiment and stock performance in the short term.
The news of ESPN's involvement in deceptive practices to secure Emmy awards could negatively impact The Walt Disney Co.'s reputation, leading to possible investor concern over corporate governance and ethical practices. This could result in a short-term negative impact on DIS stock as the market reacts to the controversy. However, the long-term effect may be mitigated by the company's swift response to the issue and the size of ESPN relative to Disney's overall business.
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