Bob Chapek, Chief Executive Officer of Disney, speaks at the 2022 Disney Legends Awards during Disney's D23 Expo in Anaheim, Calif., on Sept. 9, 2022. Mario Anzuoni/Reuters
Billionaire activist investor Daniel Loeb backed off from pushing Walt Disney Co. to spin off ESPN, saying he has a “better understanding” of the sports television network’s potential for growth.
This comes after Disney Chief Executive Bob Chapek reaffirmed the value of ESPN to the media company.
