Ex-Disney CEO Chapek Questions Iger's Plan For ESPN Partnership: 'The Brand Is So Central… Beloved By So Many Sports Fans'
Portfolio Pulse from Chris Katje
Former Disney CEO Bob Chapek criticized Bob Iger's strategy for ESPN, questioning the benefit of adding another minority partner to the sports network. Chapek highlighted ESPN's importance and its challenges in transitioning from cable to streaming. Disney, under Iger, is considering selling a minority stake in ESPN to aid in launching a new direct-to-consumer sports platform by 2025, with potential partnerships with the NBA and NFL. ESPN President Jimmy Pitaro emphasized the focus on partnership rather than equity in this transition.
March 23, 2024 | 12:49 pm
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Disney, under CEO Bob Iger, is exploring selling a minority stake in ESPN to support a new direct-to-consumer sports platform, amidst a transition from cable to streaming.
The news reflects Disney's strategic shift under CEO Bob Iger, focusing on digital transformation and potential partnerships with major sports leagues. While the move could bolster Disney's position in the streaming market, the uncertainty around the success of the new platform and the impact of potential partnerships on ESPN's value introduces a neutral short-term outlook for DIS shares.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90