Disney reorganizes businesses, creates direct-to-consumer unit

Left Richard Harbaugh right Valerie Macon both Getty Images
Kevin Mayer and Bob Chapek

Left Richard Harbaugh right Valerie Macon both Getty Images Kevin Mayer and Bob Chapek

Walt Disney (NYSE:DIS) has launched a strategic reorganization into four segments to focus its businesses. Bob Chapek, who heads the parks division, will lead the combined unit.

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"We are combining the management of our direct-to-consumer distribution platforms, technology and global operations to deliver the entertainment and sports content consumers around the world want most, with more choice, personalization and convenience than ever before", Iger said in a statement. Disney is now pursuing a $52 billion deal to acquire Fox's entertainment assets, including its stake in Hulu, which would make Disney a majority owner of the SVOD. It is pulling its first-run movies from Netflix in 2019 to offer them on the Disney-branded service. The unit will be made up of Disney's overseas media businesses; global advertising sales for ESPN, ABC and other channels; syndicated television sales; and - most importantly - a portfolio of subscription streaming services.

The company is responding with its own digital push. The new streaming sources are created to provide a new source of revenue and reduce its reliance on licensing fees from third-party distributors.

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The Burbank entertainment and media giant has also created a new direct-to-consumer and worldwide business unit to serve as a global distribution organization for content created by Disney's studio entertainment and media networks groups.

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