Disney’s CEO, Bob Iger, is taking steps to address recent rumors of possibly selling all or part of struggling networks ABC and ESPN. In a meeting with senior leaders of Disney’s television group, Iger emphasized the value of the business and expressed commitment to ABC News. This meeting follows Iger’s candid remarks to CNBC’s David Faber, where he mentioned the possibility of finding a strategic partner for ESPN and potentially spinning off ABC.
Though Iger’s comments caused concern within Disney, he is now taking steps to control the situation. During the offsite meeting, he reassured employees that the content produced by Disney’s television production teams is highly valuable to the company. Iger expressed his passion for news and emphasized the importance of ABC News in Disney’s portfolio. He believes in its endurance and the need to adapt to streaming.
Despite the reassurances, fears still exist within the company. Iger, who began his career as a weatherman on ABC, has always had a fondness for the network, but sources suggest that he now realizes the decline of linear TV at Disney. The company must adapt and let go of underperforming parts of the business.
Overall, the recent comments by Iger, though surprising, reflect the need for transformation in the television industry and Disney’s willingness to embrace change.
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