Activist investor Daniel S. Loeb of Third Point has backed off his proposal from last month for Disney to divest itself of ESPN in order to devote even more resources to content creation for stream…
and accelerate its acquisition of Comcast’s outstanding 33% stake in Hulu. Loeb revisited an argument that has been gaining steam in investor circles for more than decade that ESPN and Disney would be better off as separate entities.and other media outlets on Saturday against the backdrop of the massive D23 Expo fan convention in Anaheim, Chapek made it clear he has no intention of parting with ESPN, the sports TV powerhouse — quite the contrary.
Chapek also pointed to long-term planning that involves ESPN and Hulu, the two entities that Loeb targeted in his letter. Chapek would not elaborate but promised a more “fulsome expression” of the company’s plans is coming, though he would not offer a timetable.
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