1
Credit: DisneySports have been around for all of human history. Now, Bob Iger is looking to ESPN to save Disney.
Disney CEO Bob Iger’s ESPN
While first-thought Disney might not be sports; it is a multibillion-dollar industry that provides immeasurable value to the public. More importantly, sports are consistent. Since the Olympics started, only three were missed. Sports remain through World Wars, pandemics, and the technological revolution.
Related: Politicians Who Made Disney History: From DeSantis to Trump
Walt Disney bought ESPN in 1996 (long before the Bob Iger era). Consider the moments that so many Disney World fans hold dear. The Walt Disney Company, through ESPN, brought the Diego Corrales vs. Jose Luis Castillo fight and the epic Bulls versus Celtics game that gets referenced to this day. ESPN offers the Super Bowl and is one of the more traditional TV options.
CEO Bob Iger and ESPN: In Like a Lion, Out Like a Lamb
According to a report from the New York Times, Disney CEO Bob Iger is trying to sell off a stake in ESPN. Historically, the sports network was a “cash cow” for Disney. At present, it’s a financial bleed that Iger seeks to staunch through a sale of parts of the sports network.
A streaming service was in the talks, but the focus more surrounded things like Thursday night football and linear television. Basically, Bob Iger has held talks about ESPN with the NHL, NFL, MLB, and the NBA. If it has a net or a ball, it was part of the Bob Iger and ESPN maneuvering to try and redeem Walt Disney from its Wall Street walk of shame.
Bob Iger Using ESPN as Disney’s Safety Net
Official reports say that it’s unlikely that the Bob Iger ESPN direct-to-consumer network will premiere before 2025. But that doesn’t mitigate the value of sports. They build morale, create team spirit, and, importantly for Walt Disney Company CEO Bob Iger, sports monetize. Yet if they are so successful, why look to sell?
Related: Disney-Sponsored Pro Sports Team Caught Donating to DeSantis
It’s this same value confusion that has Iger knee-deep in a Class Action Lawsuit about (allegedly) deceiving shareholders. The CEO Bob Iger says that Disney wants to retain the main part of shares in ESPN while finding minority partners for the network.’
ESPN and Disney’s Future in Streaming TV
As for the effects on Disney entertainment were a sale to proceed, and how it would impact sports content is yet to be seen. Until then, we can keep cheering for our favorite team and stay tuned for the live sports that both economize and encourage the masses.
What do you think about the Bob Iger ESPN sale? Will it help return Disney stock to its former glory? Share in the comments below!