Per Bloomberg
Bob Iger now selling a third of Disney's business while looking to downsize
7/19/2023
Bob Iger, the CEO of Disney, is now looking to downsize as he's now selling a third of the business. This includes TV networks Freeform, ABC, and FX, while also looking for a "strategic partner for ESPN."
This comes at a time when the company's competitor, Netflix, is already up 90% since its bottom in October. This comes as the company has earned its spot as the 11th-best stock in the S&P 500 Index.
In the past month alone, Netflix was able to sign in 3.5 million new people, an over 100% increase from its recent averages. On the other hand, Disney is looking to downsize.
During the time of Bob Iger, Disney acquired Lucasfilms, Marvel, and Pixel. Now, aside from selling different parts of the business, the company is also entertaining selling or restructuring its TV streaming business in India.
In May, it was reported that Disney decided to permanently close its Galactic Starcruiser hotel just 15 months after its initial grand opening. At the high price point, the hotel would cost around $1,200 per person daily.
Recently, the average wait time at Disney dropped to 27 minutes from its initial 47-minute pre-pandemic wait times. In 2022, the wait time was at an average of 31 minutes.
See flow at unusualwhales.com/flow.
Other News:
- $DIS, Disney, is closing its Star Wars Themed Hotel.
- Disney average wait time drops to 27 minutes from 47 minutes pre-pandemic
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