Christine McCarthy, Disney CFO, said today, “We like the arm we have with ESPN,” calling the sports network and streamer an important part of the broader portfolio.
He made the comments at a press conference when asked about Third Point Capital investor Daniel Loeb, who last month sent a letter to Disney CEO Bob Chapek urging the company, among other measures, to remove ESPN. .
“As a management team, we always look at our resources and observe: ‘Is our portfolio made up of the right set of resources?’ We are taking advantage of the size of the business, so is it more of an independent company that clashes with a larger company? ”ESPN is big business and is totally ingrained in the way we think we deliver entertainment. [and] Attractive content for consumers. “
He says: “We are always looking for another alternative where it would be better to do something different. And we went through it very deliberately and rigorously with my finance team and strategic team … We consider ESPN as part of our overall portfolio.
The lobby, which revealed Disney’s small stake, also called for cost cuts, a renewal of Disney’s board of directors, and an accelerated timeline to buy the rest of Hulu from Comcast.
Disney responded at that time that it appreciated “the views of all our investors”. He noted that its latest financial results continue to deliver “strong financial results driven by world-class stories and our unique and valuable content creation and distribution ecosystem. Under Bob Chapek’s leadership, the company has achieved this strong performance. while facing the Covid-19 pandemic and its aftermath, including record streaming subscriptions and the reopening of our parks, where we have seen strong revenues and profits in our parks business. “
McCarthy and Josh D’Amaro, president of Disney Parks, Experiences & Products, also discussed the upcoming Disney + AVOD offering, advertising and parks.
after…
! function (f, b, e, v, n, t, s) {if (f.fbq) return; n = f.fbq = function () {n.callMethod? n.callMethod.apply (n, arguments): n.queue.push (arguments)}; if (! f._fbq) f._fbq = n; n.thrust = n; n.loaded =! 0; n.version = ‘2.0’; no. queue = []; t = b.createElement (e); t.asinc =! 0; t.src = v; s = b.getElementsByTagName (e)[0]; s.parentNode.insertBefore (t, s)} (window, document, ‘script’, ‘https://connect.facebook.net/en_US/fbevents.js’); fbq (‘initialization’, ‘422369225140645’); fbq (‘trace’, ‘PageView’);
Source: Deadline
Joseph Fearn is an entertainment and television aficionado who writes for The Fashion Vibes. With a keen eye for what’s hot in the world of TV, Joseph keeps his readers informed about the latest trends and must-see shows.
