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Walt Disney
is exploring the possibility of putting some of its TV networks into its joint venture with Hearst, according to a report from The Wall Street Journal.
Disney
(ticker: DIS) executives have found that certain TV channels, including ABC,
Disney
Channel, and FX, are more valuable to the company over the long term as they contribute content that is popular on streaming platforms Disney+ and Hulu, according to the Journal, which cited people familiar with the matter. Assets like Freeform and the National Geographic channel, however, aren’t as important to the company’s future, the Journal noted.
Disney has explored putting some of these less valuable channels into A+E Networks. A+E Networks is Disney’s 50-50 joint venture with Hearst. Channels that are a part of A+E Networks include the History Channel and Lifetime.
Disney didn’t immediately respond to a request for comment from Barron’s. In an interview with CNBC on Wednesday, Disney Chief Executive Bob Iger said the company has been considering “various strategic options for each of our networks, not necessarily all together, but each of them. We do that as a matter of course, for all of our assets because we’re aiming to increase shareholder value, obviously.”
Shares of Disney were down 3% Friday to $87.63. The stock has gained 0.8% this year.
Write to Angela Palumbo at [email protected]
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