Disney in Financial Struggle: ESPN Ownership On The Block?
Disney is navigating financial struggles, reportedly contemplating unloading ownership stakes in networks such as ESPN, ABC, and others. They’re said to be seeking new partners open to investing in these networks to help cut costs. ESPN has reached out to the NBA, NFL, and MLB about potential stakes in the sports network. Despite these maneuvers, Disney remains committed to the sports market. The entertainment giant currently owns 80% of ESPN, with Hearst holding the remaining share. This move comes in the wake of ongoing financial losses, layoffs, and underperformance of its online streaming service, Disney+. Time will tell if these strategies can salvage Disney’s sports networks.
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