![]() The reorganization warded off a potential proxy fight with activist investor Nelson Peltz.ĭisney reorganized into three segments: Disney Entertainment, which includes most of its streaming and media operations an ESPN division and a parks, experiences and product unit. The appearance in February came shortly after Disney announced a sweeping restructuring that included thousands of layoffs and billions of dollars cut in spending. "But dealing head on with some of our biggest challenges." "We've gotten a lot done very quickly, significant cost reductions and significant realignment of the company," Iger said. When Iger last spoke with Faber in February, soon after announcing a major restructuring at the company, he said that he felt "a sense of obligation" to return to Disney and that his preference was to stay for his two-year contract. Iger said when he had left the company he had predicted the future of traditional TV and had been "very pessimistic," and has found since his return that he was right in his thinking, adding it's worse than he expected. On that front, Iger said Disney is open to finding a strategic partner, which could take the form of a joint venture or offloading an ownership stake. Godwin encouraged ABC staffers to focus on their work and audience, the person added.Īn ABC News spokesperson declined to comment.Ĭable TV channel ESPN is in a different bucket, however. On Thursday, ABC News President Kim Godwin to employees expressed support for Iger's contract extension, according to a person familiar with the matter. ![]() "They may not be core to Disney," Iger said, adding the creativity that has come from those networks has been key for Disney. Disney owns a portfolio of TV networks, from broadcast station ABC to cable TV channels like ESPN.ĭisney is going to be "expansive" in its thinking about the traditional TV business, leaving the door open to a possible sale of the networks. "After coming back, I realized the company is facing a lot of challenges, some of them self-inflicted," Iger told David Faber at Allen & Co.'s annual conference in Sun Valley, Idaho, noting he's accomplished a lot of work in seven months but there's more to be done.Īt the top of the list is assessing the traditional TV business, Iger said. Personal Loans for 670 Credit Score or Lower ![]() Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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