Walt Disney restructures entertainment businesses to boost streaming

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Walt Disney restructures entertainment businesses to boost streaming




Illustrative file photo of the "Disney" logo


© Reuters / DADO RUVIC
Illustrative file photo of the “Disney” logo


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)

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