Loeb had called for the sale or spin off last month, but now says he has a 'better understanding of ESPN's potential as a standalone business.'
“We have a better understanding of ESPN’s potential as a standalone business and another vertical for Disney to reach a global audience to generate ad and subscriber revenues,”
Loeb said in a pair of tweets Sunday. “We look forward to seeing [ESPN chief Jimmy Pitaro] execute on the growth and innovation plans, generating considerable synergies as part of
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Investor Daniel Loeb Backs Off Disney-ESPN Sale Proposal, Citing ‘Better Understanding’ of Company’s ‘Growth and Innovation’ PlanActivist investor Daniel S. Loeb of Third Point has backed off his proposal from last month for Disney to divest itself of ESPN in order to devote even more resources to content creation for stream…
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