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ESPN became part of the Disney umbrella in 1996. And while that continues to be the case to this day, there’s always the potential for change with major corporations.
On Friday, Dylan Byers of Puck reported the possibility of a change regarding Disney and ESPN, noting that the former would be open to spinning off the latter into its own company, or potentially even selling it to another company.
That report caused Disney’s stock prices to surge. However, a move like that may not be imminent.
Later, CNBC reported that Disney is not looking to make that type of move with ESPN, instead hoping to “pursue further value” with ESPN+ and sports betting:
After Disney shares jumped to session high on a report that said the company is looking into potentially exploring an ESPN spinoff, a source tells CNBC the report is inaccurate. The source tells CNBC the company aims to pursue further value through ESPN+ and sports betting. pic.twitter.com/biW2REmpqc
— CNBC Now (@CNBCnow) October 15, 2021
Of course, it’s always possible that companies can change their minds. So while ESPN seems to remain in its current position for the short term, perhaps something will materialize further down the line.
Jake Rill contributes to news coverage for Saturday Down South. He has covered the SEC since 2016.
