Disney may soon sell its TV-related assets, As CEO Iger’s tenure gets extended

Disney’s CEO Bob Iger opened the door to selling the company’s linear TV assets. As the company struggles to adapt to the media industry’s shift to streaming and digital offerings.

Iger said to CNBC “I realised that the company is facing a lot of challenges, some of them are self-inflicted.” He added that he has accomplished a lot in seven months, but there is still more to be done. Iger stated that evaluating the traditional TV business is at the top of the target.

From cable TV networks like ESPN to broadcast station ABC, Disney owns a variety of TV networks.

Disney will have an “expansive” perspective on the traditional TV industry, keeping the door open to the possibility of selling the networks. According to Iger, “They may not be core to Disney,” but the creativity that has emerged from such networks has been crucial for Disney. According to a person familiar with the situation, ABC News President Kim Godwin communicated her support for Iger’s contract renewal to staff members on Thursday. As per the source, Godwin urged ABC employees to concentrate on their tasks and target audience.

ESPN is a different category than other cable TV channels. Iger stated that Disney is open to locating a strategic partner in that regard, who may take the shape of a joint venture or the sale of an ownership position. Iger claimed that he had been “very pessimistic” about the future of traditional TV when he left the company, but that he has since discovered that his predictions were accurate. He also added that the situation is worse than he had anticipated.