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Disney re-organizing several businesses under two senior execs

Disney re-organizing several businesses under two senior execs

Walt Disney Co (DIS.N) said on Wednesday it had created a new unit for its streaming video and worldwide businesses as the company retools its traditional media operation for a world rapidly embracing online video.

Photo Disney promoted two executives: Kevin Mayer, left, will head a new division that includes TV and streaming services; and Robert Chapek will oversee theme parks, consumer products, video games and other units.

The company has now created a direct-to-consumer and global segment, and merged consumer products with its parks segment. Now Bob Iger and Walt Disney's management team have announced a strategic reorganization across many units to get ready for the next decade. That segment will include the new upcoming Disney-branded streaming service and the ESPN+ streaming service. Also, Bob Chapek was named Chairman of the Parks, Experiences and Consumer Products segment. The company plans to launch its ESPN direct-to-consumer offering, the company's first, later this year.




The reorganization also created a direct-to-consumer and global division, a media networks division and a studio entertainment segment. Disney maintains that this venue will become the exclusive home for subscription video-on-demand of the newest live-action and animated movies in the Pay TV window from Disney, Pixar, Marvel and Lucasfilm. Also, Disney's program-sales operations headed by Janice Marinelli-including global distribution of film and television content to the Disney-branded direct-to-consumer streaming service, Hulu and other third-party platforms and channels, as well as Movies Anywhere-will be integrated into the new segment.

Disney's streaming tech company BAMTech will now house all consumer-facing digital technology and products as part of the new D2C segment.

Shares rose 0.4% to $104.10 during afternoon trading.


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