D'Amaro Speaks Out on Disney Stock Performance
Disney's CEO Josh D'Amaro told CNBC that he isn't interested in spinning off ESPN, despite investor calls to separate the sports business. He also said Disney isn't considering structural moves like the proposed merger between Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD), or Comcast's (CMCSA) plan to spin out NBCUniversal.
D'Amaro expressed dissatisfaction with the company's stock performance, stating that he 'isn't happy with where the stock stands right now.' Disney shares are up 1.28% on the day, but down more than 8% over the past twelve months, despite quarterly results showing growth in theme parks and streaming.
The CEO highlighted the growth in the parks division as a 'big surprise' last quarter, acknowledging that Disney isn't immune to headwinds facing the sector. He declined to comment on potential price increases for tickets or merchandise.