Loeb changes course on ESPN spinoff bid
Dan Loeb tweeted that he'll stop pushing Disney to sell off ESPN.The
tweet follows Disney CEO Bob Chapek's statements at this weekend's D23 Expo.
Third Point CEO tweeted Sunday morning that he thinks Disney's sports network should remain a distinct vertical.
"We look forward to seeing Mr. Pitaro deliver on growth and
innovation initiatives,” he said of Disney Chairman James Pitaro.
The tweet follows Disney CEO Bob Chapek's statements when he said he had huge plans for ESPN. Chapek
told Variety, "We got no fewer than 100 enquiries from parties wanting to acquire ESPN"
Loeb also asked Disney to add Hulu to its direct-to-consumer platform Disney+. Comcast will sell Disney 33% of Hulu in two years
Loeb advised Disney to "make every ‘endeavour” to buy the remaining minority ownership.