Disney: ESPN may be 'the most important issue for Bob Iger,' analyst says
source link: https://finance.yahoo.com/news/disney-espn-may-be-the-most-important-issue-for-bob-iger-analyst-says-221527617.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
on profitability as the number
Disney: ESPN may be 'the most important issue for Bob Iger,' analyst says
As Disney (DIS) gears up to report its fiscal first quarter earnings after the bell on Wednesday, one analyst says the future of ESPN may be CEO Bob Iger's most important issue to solve.
"[ESPN] may be the most important issue for Bob Iger to deal with in his tenure now," Macquarie analyst Tim Nollen told Yahoo Finance Live on Monday.
"Goal number one is getting direct to consumer toward a more profitable, sustainable path. Goal number two, which is really an extension of that, [is] getting ESPN decided. What are they going to do with it?" he continued.
Media analysts have long questioned the murky future of ESPN and whether or not Disney should consider spinning off the popular sports network — a suggestion previously made by Third Point's Dan Loeb.
Loeb argued ESPN would have greater flexibility to pursue business initiatives, such as sports betting, if it were not part of Disney.
Wall Street analysts remain split with some encouraging a spin-off to aid cost rationalization and balance sheet options, while others disapprove of the move given ESPN's cash flow generation. In its most recent fiscal year, Disney's operating income for its Linear Networks segment — which includes ESPN — totaled $8.52 billion.
'Disney sees a future for ESPN in streaming'
"I think Disney sees a future for ESPN in streaming," Nollen said, suggesting the next NBA rights deal, which will be up for renewal after the 2024-25 season, could include various streaming components that set up ESPN's future.
"Within a couple of years, maybe we have more of a clear plan as to ESPN becoming a fully over-the-top streaming service. I think that is Bob Iger's main legacy from this time around — even beyond."
In its most recent fiscal year, losses for Disney's direct-to-consumer unit, which includes Disney+, Hulu, and ESPN+, totaled $4 billion for the year. High content costs were largely to blame as the company upped its content budget by $8 billion in 2022 to a whopping $33 billion.
ReutersAMC to price movie tickets based on seating
AMC's new program, called "Sightline at AMC", will begin from Friday and will provide moviegoers with multiple seating options to meet their viewing preferences. Value seats are available for free only to members of AMC Stubs, the chain's rewards club. Shares of AMC, which operates over 900 theaters globally, fell nearly 76% last year.
4h ago
ReutersCVS nearing $10.5 billion deal for primary-care provider Oak Street Health - WSJ
Oak Street Health and CVS declined to comment on the report when contacted by Reuters. Bloomberg News reported last month that CVS was exploring a deal for Oak Street Health. Oak Street Health runs primary care centers across the United States for recipients of Medicare, the U.S. government insurance program for Americans aged 65 and older, and has private equity firms such as General Atlantic and Newlight Partners among its shareholders.
3h ago
Motley FoolBuying This Stock Could Be the Smartest Thing You Ever Do
Disney is a strong growth company with a timeless portfolio of content, characters, and intellectual property (IP), which is being monetized through various revenue streams. The return of CEO Bob Iger may lead to a refocus on intellectual property and cost reductions, most likely resulting in stronger earnings over time. First, let's take a closer look at what makes Disney such a unique and valuable company.
6h ago
BenzingaDisney Analyst Expects Blockbusters Wakanda Forever, Avtar To Dominate Upcoming Quarterly Results
Keybanc analyst Brandon Nispel reiterated Overweight on The Walt Disney Co (NYSE: DIS) with a $119.00 price target. The analyst expected a significant focus from CEO Robert Iger around the uniqueness of DIS's IP: Black Panther: Wakanda Forever and Avatar: The Way of Water, the top two highest-grossing theatrical releases in 4Q22. Nispel did not expect Iger to share plans for ESPN and Hulu or reveal his thoughts on M&A. The analyst did not have a strong opinion on M&A. However, he believes DIS pr
9h ago
ReutersPinterest fails to pique Wall Street interest with downbeat forecast
(Reuters) -Image-sharing platform Pinterest Inc reported lower-than-expected quarterly revenue on Monday joining peers Alphabet Inc and Snap Inc in sounding the alarm on a still-weak ad market. After a challenging 2022 in which advertising-dependent companies faced shrinking budgets and cratering stock prices, fourth-quarter results this week from Alphabet to Meta Platforms Inc showed they were not yet in the clear. Pinterest said it expected revenue to grow in low-single-digits in the first quarter, compared with estimates of about 7% growth, according to Refinitiv data.
6h ago
Yahoo FinanceActivision Blizzard results top estimates amid otherwise rough quarter for game makers
Activision Blizzard (ATVI) reported its Q4 earnings today after the bell, clocking key beats in net bookings, EPS, and monthly active users.
7h ago
MarketWatchBig Tech just added to a shrinking forecast, but maybe Bob Iger can brighten the mood
Wall Street's earnings expectations for the year have been diving, and the news could get worse once they factor in disappointing results from Big Tech.
1d ago
ReutersNYSE plans to compensate brokerage claims after glitch
NYSE members had submitted compensation claims for losses, and the exchange could potentially face additional claims from regulators, New York Stock Exchange-owner Intercontinental Exchange Inc said earlier this month. "In accordance with our rules, we expect to reimburse members 100% for all impacted orders that were received by the exchange," an NYSE spokesperson said in an emailed statement. Bloomberg News, which first reported the exchange's move, said the NYSE has notified clients in recent days that it will cover all losses for orders posted or routed to NYSE, while loss-making trades triggered on other venues will not be covered.
1h ago
SmartAssetYou Can Now Delay RMDs But Think Twice Before You Do
Conventional logic says you should delay withdrawals from your tax-deferred retirement accounts as long as possible to maximize the tax-free compounding that can increase the size of your overall nest egg. But the IRS won't wait forever to get its … Continue reading → The post You Can Now Delay RMDs But Think Twice Before You Do appeared first on SmartAsset Blog.
14h ago
SmartAssetAsk an Advisor: When Taking RMDs, How Do I Avoid Locking in Losses? I'll Be 72 Years Old Soon, and My Stocks Are ‘Way Down' This Year
I will be 72 years old on Feb. 10, 2023. I have a traditional individual retirement (IRA) account. Most of the money is tied in stocks, and the stocks this year are way down. If I sell to pay the … Continue reading → The post Ask an Advisor: When Taking RMDs, How Do I Avoid Locking in Losses? I'll Be 72 Years Old Soon, and My Stocks Are ‘Way Down' This Year appeared first on SmartAsset Blog.
14h ago
Fox BusinessDisney's Reedy Creek Improvement District to get new name, Governor appointed board
The Reedy Creek Improvement District will not get dissolved under a bill filed during a special session in the Florida State Legislature on Monday.
3h ago
CBS MoneyWatchAMC to price movie theater tickets based on where you sit
Battered by COVID, nation's largest theater chain is betting that movie-goers are willing to pay more for a better view.
9h ago
InvestopediaDisney Results to Hinge on Theme Parks, Avatar Sequel
The Feb. 8 report will be the company's first since Bob Iger returned as CEO after the board fired Bob Chapek in November.
8h ago
TipRanksDown More Than 50%: These 2 ‘Strong Buy’ Stocks Still Look Cheap Despite This Year’s Rally
It might be obvious to point out that an important part of the investing game is to find the stocks that are undervalued — that is, the companies with sound fundamentals that the market is presently not fully appreciating. Luckily for investors, after 2022’s widespread carnage, there are still plenty of names out there still at relatively depressed levels. In fact, even after the strong rallies seen in the year’s opening stretch, such was 2022’s merciless bear, there are scores of stocks out the
1d ago
SmartAssetHow to Avoid Real Estate Capital Gains Taxes
Investing in real estate can assist you in diversifying your investment portfolio by adding physical assets and providing you with a hedge against inflation. If you are a real estate investor, or if you aspire to become one, you will … Continue reading → The post A Simple Trick for Avoiding Capital Gains Tax on Real Estate Investments appeared first on SmartAsset Blog.
2d ago
The Wall Street JournalAdani Crisis: How a Short Seller Wiped Out Billions in Wealth From One of India’s Richest Men
Gautam Adani an Indian businessman, is one of the richest people in the world. Here is what you need to know about the Adani saga. There are seven India-listed companies bearing the Adani name, including firms in power transmission, green energy and port operation.
1d ago
TipRanks2 High-Risk, High-Reward Stock Bets Cathie Wood Is Taking Into 2023
The tech-heavy Nasdaq represents a collection of more risky stocks than the other major indexes and that is reflected by a poorer performance in bear markets and a better display during bull runs. But the risks associated with the Nasdaq are mere child play compared to edgier funds such as Cathie Wood’s Ark Innovation ETF. Now that really hit the skids during last year’s bear, but the fund is also up 37% year-to-date, putting the Nasdaq's 15% gain in the shade. In fact, throwing more shade the N
13h ago
Yahoo FinanceStocks moving in after-hours: Chegg, Simon Property, Activision Blizzard, Take Two Interactive, Spirit
Stocks moving in after-hours: Chegg, Simon Property, Activision Blizzard, Take Two Interactive, Spirit Airlines
5h ago
BloombergInvestors Can Fight the Fed All They Want. Don’t Fight the Tape
(Bloomberg) -- Ignoring the Federal Reserve’s determination to keep raising rates and hold them there is a wildly profitable trade on Wall Street right now. It’s trying to swim against the rising market that carries risks.Most Read from BloombergHundreds Dead as Earthquakes Hit Turkey and SyriaChina Moves From Contrite to Confrontational Over US BalloonUS Moves to Recover Chinese Balloon While Weighing RetaliationF-22 Makes First Air-to-Air Strike in Chinese Balloon TakedownUS Downs Chinese Ball
2d ago
Yahoo FinanceChinese balloon, State of the Union, debt ceiling: This week in politics
Here are three political stories at the forefront of Washington politics this week.
6h ago
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK