Disney may offload its TV assets as ‘they may not be core’ to the media giant

Walt Disney Co (NYSE: DIS) is in focus after its board revealed Bob Iger will remain the Chief Executive for another two years – through the end of 2026.

Disney’s plans for its linear TV business

On Thursday, the entertainment conglomerate also said that it was open to selling its linear TV assets. According to CEO Bob Iger:

They may not be core to Disney. There’s creativity and content that’s core, but the distribution model that forms the underpinning of that business is definitely broken.

He has a different stance on ESPN, though. Disney is interested in a strategic partnership instead on that front, the Chief Executive told CNBC’s David Faber today.

Disney shares have been rather lacklustre this year – down more than 20% versus their year-to-date high at writing.

Disney to slow down on making Marvel movies

CEO Bob Iger also said this morning that the mass media company will hold back a little on making Marvel and Star Wars content to reduce costs.

There have been some disappointments in that business. We would have liked some of our more recent releases to have performed better.

Earlier this year, the California-based company restructured into three segments – Disney Entertainment, ESPN, and Parks, Experiences and Products. It also committed to cutting $3.0 billion in costs from content that helped avoid a proxy fight with Nelson Peltz (source).

Disney is scheduled to report its Q3 results early next month. Consensus is for it to earn $1.02 a share this quarter down from $1.09 per share a year ago.