Disney Abandons Plans to Spin Off ESPN

The Walt Disney Company has decided against spinning off ESPN, an option that had been under consideration. According to reports, new CEO Josh D'Amaro may revisit the decision in the future, but for now it is a non-discussion.

Disney owns a 72% stake in ESPN through its subsidiary ABC Inc., while Hearst Corporation and the National Football League hold minority stakes of 18% and 10%, respectively. ESPN executives have long downplayed the possibility of a spinoff, with chairman Jimmy Pitaro stating that ESPN is 'a big part of The Walt Disney Company's strategy and future.'

Despite this decision, ESPN remains profitable, having generated $2.81 billion in operating income last fiscal year. However, this marks a 5.97% decline from the previous year.