Disney’s stock price has declined in recent days following chief executive Bob Iger’s statements that networks like ABC no longer constitute the company’s “core” business, and there were possibilities of selling such businesses.
In a July 13 interview with CNBC, Mr. Iger was asked whether the company would consider selling its TV networks, including American Broadcasting Company (ABC), FX, ESPN, Fox, and National Geographic. “We’re going to be expansive,” Mr. Iger replied. “We have to be open-minded and objective about the future of those businesses … We’re very objective about their future as part of our asset base.” When asked whether these networks were not core to Disney’s business, Mr. Iger said that “they may not be core Disney. Yeah.”
