Please ensure Javascript is enabled for purposes of website accessibility
Disney Stock Stabilizes After Hitting Lowest Point Since 2014
By admin
Published 2 years ago on
August 28, 2023

Share

Getting your Trinity Audio player ready...

Disney’s shares experienced a slight rise of 0.6% on Friday, following a slump to a nine-year low the previous day. The entertainment giant’s shares closed Thursday at $82.47, the lowest since October 2014 when the stock stood at $82.68. Disney’s underperformance is evident in comparison to the S&P 500, with a year-to-date decline of about 5% against the S&P’s approximately 15% increase.

Challenges Facing Disney

Disney’s business has faced numerous hurdles lately, including a slowdown in its parks business, a drop in its linear TV division, a decrease in subscribers to its Disney+ streaming service, and poor performance at the box office compared to competitors. These challenges have led to calls from Wall Street for Disney to divest unprofitable or non-essential assets.

Potential Amazon Collaboration

According to a report from The Information, Disney is in early discussions with Amazon (AMZN) to transition ESPN to a direct-to-consumer streaming platform. If successful, Amazon could provide ESPN through one of its streaming services, potentially boosting its distribution. Amazon could also acquire a minority stake in ESPN.

The proposed cost for the ESPN streaming service is reported to be between $20 and $35 per month, making it one of the most expensive platforms in the market. However, analysts warn that transitioning ESPN fully to streaming could be challenging due to high sports rights costs and consumer reluctance to pay for an additional streaming service.

Read more at Yahoo Finance.

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

UP NEXT

Federal Raids Threaten California Businesses as Immigrant Workers Vanish From Job Sites

Fresno Councilmember Warns of Possible ICE Raid at Popular Outdoor Market

58 minutes ago

Americans Split on Trump’s Use of Military in Immigration Protests, Reuters/Ipsos Poll Finds

1 hour ago

Fresno County Wildfire Threatens Thousands of Acres

A wildfire broke out Thursday near Highway 198 and Firestone Avenue in Coalinga, burning 14 acres with a critical rate of spread, CalFire sa...

3 minutes ago

A rapidly spreading wildfire near Highway 198 and Firestone Avenue in Coalinga burned 15 acres Thursday, June 12, 2025, and has the potential to grow to 5,000 acres, according to CalFire. (CalFire)
3 minutes ago

Fresno County Wildfire Threatens Thousands of Acres

A late-night fire heavily damaged a Fresno home on on Wednesday, June 11, 2025, but all six occupants escaped safely with no injuries. (Fresno FD)
21 minutes ago

Fresno Fire’s Helmet Cam Catches Blaze Raging on House, Occupants Escape Safely

27 minutes ago

Derek Carr Says Fresno Is Home, as City Honors Bulldog Great

58 minutes ago

Fresno Councilmember Warns of Possible ICE Raid at Popular Outdoor Market

U.S. Marines stand with their packs and weapons, as protests against federal immigration sweeps continue, in greater Los Angeles, California, U.S., June 9, 2025, in this screen grab taken from a handout video. (DVIDS/Handout via REUTERS/File Photo)
1 hour ago

Americans Split on Trump’s Use of Military in Immigration Protests, Reuters/Ipsos Poll Finds

Mark Kismet, 50, who is considered at-risk went missing on Friday, June 6, 2025, in Clovis near Harlan Ranch is still missing according to the Clovis Police Department on Thursday, June 12, 2025. (Clovis PD)
2 hours ago

Clovis Police Still Searching for Missing At-Risk Man

2 hours ago

Fresno Unified Spends Thousands to Reprint Diplomas With Misty Her’s New Title

2 hours ago

Another Dozen Migrants Are Transferred to Guantánamo

Help continue the work that gets you the news that matters most.

Search

Send this to a friend