Disney CFO Hugh Johnston said a spin‑off of its linear TV networks is complex and unlikely to add shareholder value.
He said ESPN sports cuts streaming churn and Disney’s networks produce series like “High Potential” and “Shogun” for Disney+ and Hulu.
The comment came during Disney’s revamped earnings presentation, which featured pre‑screened analyst questions and a 3,000‑word letter to shareholders.
Disney’s stock rose 6.83% as the news was released.