A Disney Stock Turnaround Could Be Closer Than You Think

Seasoned investors know that Walt Disney (NYSE: DIS) is more than just the theme parks and content associated with the Disney brand name. The entertainment conglomerate also owns Marvel, Pixar, Star Wars, ESPN, ABC, Hulu, and a slew of cable networks, including those it gained from Fox in its 2018 deal.

For years, ABC was a core component of Disney's media empire. In fiscal 2019, its broadcasting division brought in $8.3 billion in revenue and $1.35 billion in segment-operating income, about 9% of its total segment-operating income that year.

Now, with profits from its linear TV ecosystem drying up, and the company in a hurry to turn a profit from streaming, Disney seems to be preparing to sell ABC and other legacy-media assets, including several local TV affiliates.

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Source Fool.com