Oct 12 (Reuters) – Walt Disney Co said on Monday it had restructured its media and entertainment businesses to accelerate the growth of Disney + and other streaming efforts that are gaining popularity with consumers.
Disney said it would manage media and entertainment programming under three separate groups – studios, general entertainment and sports – and concentrate distribution and marketing under one global unit.
The move comes days after activist investor Daniel Loeb urged Disney to forego a dividend payment and double its investment in streaming programming.
Disney shares climbed about 5% in after-market trading to $ 130.76.
Kareem Daniel, former president of consumer products, games and publishing, will oversee Disney’s new entertainment and media distribution group, the company said.
(Edited in Spanish by Manuel Farías)