The Case For Walt Disney Co. Spinning Off Espn

Disney (NYSE: DIS) gained control of ESPN through its acquisition of Capital Cities Communications in 1996. Over the following two decades, ESPN became the crown jewel of its cable business, which generated 30% of Disney's sales and over half of its operating income last quarter. However, Disney's cable business has lost some of its luster in recent years due to cord-cutters leaving for streaming services.

BING NEWS:
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