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Execs reassured investors and analysts that it’s not moving away from theatrical releases if the deal, which it views as a “strategic accelerant,” goes through.
Commissioner Anna M. Gomez emphasized the danger of “unfettered media consolidation” as the agency voted to seek public comment on media ownership limits.
Everyone’s breaking up (their businesses).
The commission may change a rule that stops entities from owning TV stations that can reach more than 39% of the national audience.
The streamlining comes as Disney prepares to unwrap its ESPN streaming app on August 21.
It also narrowed its losses to $101 million for the quarter, down from $348 million in the same period last year.
Company restructures and controversies have resulted in hundreds of cuts.
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