The Walt Disney Co. provided investors a more detailed look at its investment in building a direct-to-consumer business in financial documents filed today with the SEC. The company re-cast Disney’s results for the past three fiscal years to align with the new corporate structure created with last March’s re-organization.
The Department of Justice is prepared to put the ball back in Disney’s court for unloading Fox’s regional sports networks, saving Disney from a fire sale and billions of dollars in losses, two sources with direct knowledge of the situation said. Justice is poised to allow Disney to spin off the control of Fox’s 22 regional sports networks to complete its $71 billion deal for Fox, one of the sources said, as opposed to finding an actual buyer.
Walt Disney Co. CEO Bob Iger missed his shot at a $60 million bonus but still got his largest-ever compensation package thanks to special awards issued in connection with his contract extension. Iger was awarded $65.6 million for 2018, including an $18 million cash incentive and $43.6 million in restricted stock and options.
New Fox, a subsidiary of 21st Century Fox, on Friday said it has no plans to bid for the 22 Fox regional sports networks that regulators have said Walt Disney must divest as part of its acquisition of large parts of 21st Century Fox.
Veteran TV executive Joe Earley has been named head of marketing for Disney’s new subscription streaming service. Earley will serve as executive vice president, marketing ad operations for Disney+.
The contract replaces one that expires Monday and comes following Verizon warning its customers last week that they were in danger of losing Disney-owned properties on the service. Disney also ran ads warning of the possible blackout. News of the new agreement did not offer specifics.
‘Tis the season for cable carriage fights, with Dec. 31 a common expiration date for major deals, and the latest battle is brewing between Disney and Verizon FiOS. The media company has started airing ads aimed at the 4.5 million subscribers to FiOS. The spots carry the message “don’t lose your shows.”
ABC exec Channing Dungey’s move to the streamer signals a new front in Reed Hastings’ battle with Bob Iger in the run-up to the Mouse House digital competitor’s debut next year.
Disney’s auction of Fox’s chain of local sports TV networks has proven to be such a complicated process that the Mouse House has decided to offer up the networks piecemeal.
Disney’s Direct-To-Consumer & International unit has reached a deal with Google for advertising technology in a bid to increase revenue across its vast digital footprint.