Disney's TV Business Is on the Chopping Block, According to CEO: What It Could Mean for the Company
The Disney (NYSE: DIS) that investors know and love today could look considerably different in the future. That's the hint CEO Bob Iger dropped on Thursday anyway, speaking to CNBC's David Faber at Allen Co.'s annual media and technology investor conference. Specifically, the company may put some or all of its linear television networks like ABC, The Disney Channel, National Geographic, and FX, up for sale, with Iger suggesting "they may not be core to Disney." As for ESPN, the company's looking for a strategic partner.
Fair enough. No one knows the inner workings of a corporation quite as well as its chief executive. It's his call to make regarding what pieces of the company stay or go.
The prospect raises a key question though: Just how "non-core" is the television operation to Disney? Let's just say Iger might want to rethink the prospect of a sale, or at least clarify his comments.
Source Fool.com
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