By Reuters Staff
FILE PHOTO: A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid
(Reuters) – Walt Disney Co said on Monday it had restructured its media and entertainment businesses to accelerate growth of Disney+ and other streaming media efforts that are rising in popularity with consumers.
Disney said it would manage media and entertainment programming under three separate groups – studios, general entertainment and sports — and concentrate distribution and commercialization under a global unit.
The move came days after activist investor Daniel Loeb urged Disney to forgo a dividend payment and double its programming investment in streaming.
Disney shares rose nearly 5 percent in after-hours trading to $130.76.
Kareem Daniel, formerly president of consumer products, games and publishing, will oversee Disneys new media and entertainment distribution group, the company said.read more
Walt Disney restructures entertainment businesses to boost streaming – Reuters
