Walt Disney’s sports activities community ESPN may safe an enterprise worth of $24 billion and entice funding curiosity from sports activities leagues, expertise firms resembling Apple and main telecommunications firms together with Verizon, in keeping with BofA World analysis.
In an try to draw an out of doors investor, the media large final month unveiled ESPN’s monetary statements that exposed declining gross sales and earnings on the community thought of the crown jewel of its conventional tv enterprise.
CEO Bob Iger stated Disney needs to maintain ESPN and can attempt to construct a streaming app for it both by forming a three way partnership or discovering a purchaser for a minority stake within the community. Which means a 36 p.c stake in ESPN could be up on the market, assuming Disney intends to retain a 51 p.c majority and Hearst Media Co.’s 20 p.c stake, Financial institution of America analysts led by Jessica Reeve Ehrlich wrote in a observe printed Wednesday. .
Disney begins an analysis course of for Hulu’s stake The Walt Disney Firm stated it plans to purchase a 3rd of Comcast within the Hulu streaming service, starting an analysis course of that may lengthen into subsequent 12 months.
The leisure large stated in a press release on Wednesday that it expects to pay at the least $8.61 billion for the stake, together with capital contributions owed to Disney by Comcast. Beneath a earlier settlement, they agreed that Hulu’s complete worth could be a minimum of $27.5 billion.
First printed: November 2, 2023 | 11:45 pm he
(tags for translation) ESPN