Disney CEO Bob Iger has implemented a sweeping reorganization of the company’s operations, creating a Disney Entertainment business unit to be led by Dana Walden and Alan Bergman, as well as …
While revealing the new plan, Iger stated that the focus was to “return creativity to the center of the company.” and eyeing $5.5 billion in total cost reductions.
Disney’s theme parks and cruise lines and consumer products units will continue to be housed within the Disney Parks, Experiences and Products unit, which is unchanged in the reorganization. The decision to separate out ESPN and its ESPN+ streaming arm will likely spur speculation about Disney seeking a sale or spinoff of the sports giant.
“Without question, elements of DMED will remain, but I fundamentally believe that storytelling is what fuels this company, and it belongs at the center of how we organize our businesses,” Iger wrote.
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