Activist Investor Dan Loeb Backs Off From Asking Disney to Sell ESPN

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.