Why I'm More Excited Than Ever About Disney Stock
Dan Loeb has changed his tune on ESPN. In August, the activist investor wrote a letter urging Walt Disney (NYSE: DIS) CEO Bob Chapek to spin off the sports media company. But after Chapek presented at Disney's annual D23 conference and talked to reporters about ESPN and the future of Disney, Loeb's now convinced ESPN is worth more within Disney.
I've always thought ESPN held a lot of value for Disney. Chapek quickly changed the mind of a highly vocal activist investor, and that makes me more excited about the prospects of Disney and its streaming strategy than ever.
Disney is increasingly focused on streaming. And streaming's increasingly focused on sports. Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), and others have all made big deals for sports rights recently.
Source Fool.com
