Bob Chapek Discusses ESPN’s Future in First Public Comments Since Ouster
After nearly a year and a half, Bob Chapek is breaking his silence.
The former Walt Disney Company CEO has stayed out of the limelight following his November 2022 ouster that saw his predecessor, Bob Iger, return to the helm at Disney.
Since that time, Disney has gone through a myriad of changes and now faces two proxy battles while heading into its annual meeting.
One of the most pressing issues for Iger and the Disney board has been how to transition ESPN from a linear television network to a direct-to-consumer platform. Iger has made it no secret that a stand-alone version of ESPN will be coming in 2025. Still, to help offset those costs and perhaps gain some expertise in the field, Disney has reportedly considered selling a minority stake in ESPN. Potentially even to a sports league like the NFL.
Chapek Doesn’t Believe Disney Needs Partners For ESPN
As part of the new documentary, ESPN’s Fight for Dominance, Chapek disagreed with the notion that Disney should add minority partners to ESPN.
“Strategically, I don’t really see a benefit in bringing on yet another minority partner into ESPN,” Chapek said.
While Chapek said he does not see the need to bring in another minority partner, he admitted that Disney could do so to help pay for Comcast’s purchase of its stake in Hulu. Disney has committed to buying that take for at least $8.6 billion.
“There’s already one minority strategic partner in Hearst. So this would be bringing on a second minority strategic partner,” Chapek said. “Obviously, the benefit of doing that is that you make available some cash. And given some of the conversation that’s been happening between Comcast and Disney in terms of needing to buy the final share of Hulu to make it wholly owned by the Disney company, it’s possible that maybe that cash itself is what they’re after.”
What Chapek Wanted ESPN To Be
According to Chapek, when he was CEO of Disney, his goal was to turn ESPN into a centralized hub that would take viewers to the game they wanted, regardless of what company owned the broadcast rights.
“If I’m on my Apple TV and I want to watch a movie, I have no idea whether it’s on Prime or Netflix or Disney+ or Hulu or wherever it’s at,” Chapek said. “The way I find out is I go to Apple TV, I plug in the movie that I’m looking to watch, and they direct me exactly to where that movie is. And then they connect me seamlessly without me then having to exit and go to another app to go find the show on that app. I think ESPN should be that source for a central clearinghouse.”
So far, Chapek has only broached the topic of ESPN. As the former Disney CEO emerges back into the spotlight, more questions about Disney and his tenure will surely follow.
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