Disney Sharpens Its Focus on Streaming

Less than a week after hedge fund manager Dan Loeb called on Walt Disney (NYSE: DIS) to put more money into streaming, the entertainment giant is doing just that.

Disney announced after hours on Monday that it would restructure its media and entertainment business to prioritize streaming, a transition it said had been in the works for months despite Loeb's open letter to CEO Bob Chapek last week. Disney's streaming business had previously been contained under the direct-to-consumer and international business segment, while its media networks and studio entertainment segments operated as they always had.

Image source: Disney.

Source Fool.com