Disney Considering Spinning-Off ABC

By Andrew Gauthier 

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Reuters

Walt Disney Co’s Chief Executive Bob Iger said on Wednesday that the top U.S. media company was keeping its options open for dealing with TV network ABC and its struggling news division, including a spin-off.

At Disney’s shareholders’ meeting, Iger noted that ABC News, which cut 300 to 400 jobs as part of a drive to refocus and recapture viewers lost to the Internet, is in a business undergoing significant challenges because of changes in the way people access and consume news.

Asked by a shareholder if Disney intended to spin off ABC, Iger said he was comfortable with the current mix of assets but added that the company was always reviewing the longer-term options for all its businesses. More…

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