Disney CEO Bob Chapek has rejected activist investor Daniel Loeb's call for the media company to sell or spin off ESPN, saying he has plans for the network.
Bob Chapek has turned down billionaire activist investor Daniel Loeb's call to sell or spin off the ESPN sports television network.
Disney has been "deluged" with interest from other media concerns regarding the sports network, Chapek said in an interview with the Financial Times. "If everyone wants to come in and buy it or spin it with us, I think that says something about its potential," Chapek told the FT. "I think its potential is within the Disney company."Bob Chapek, Chief Executive Officer of The Walt Disney Company.revealed in August a stake of roughly $1 billion in Disney and announced plans to shake up the media company.At the time, Loeb called for ESPN to be spun off to reduce Disney’s debtload.
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