Media
By Alexandra Steigrad
Printed
March 21, 2024, 11:43 a.m. ET
Former Disney CEO Bob Chapek is breaking his silence in his first public feedback since being fired in 2022 — by ripping present boss Bob Iger’s transfer to discover a strategic associate for ESPN.
Chapek advised CNBC that he sees no motive for the Disney-owned sports activities channel so as to add any minority companions.
“Strategically, I don’t actually see a profit in bringing on one more minority associate into ESPN,” Chapek stated as a part of the CNBC documentary “ESPN’s Battle for Dominance,” which chronicles the community’s digital technique, printed Thursday.
After Chapek was fired in November 2022, former CEO Iger returned to the helm and simplified the construction of Disney, splitting ESPN into its personal section. Chapek stated he believes Disney is planning on promoting all or a part of ESPN, and that Iger’s transfer to separate it from different leisure is step one.
Former Disney CEO Bob Chapek broke his silence on Thursday when he criticized Disney’s technique for ESPN. REUTERS
He continued: “The model is so central. It’s so highly effective. It’s so beloved by so many sports activities followers. On the similar time although, I do imagine we’ve to acknowledge that the transition from a cable universe over to a streaming world goes to be one which’s gonna in all probability be fraught with challenges.”
CNBC requested Chapek why he didn’t promote ESPN when he was CEO. On the time, ESPN was bringing in money Disney wanted so promoting it wasn’t possible, Chapek stated.
The previous exec identified Disney was in debt from buying Fox — a pricey deal reduce by Iger throughout his earlier stint on the helm — and the COVID-19 pandemic had simply hit, leaving the corporate scrambling to plot a technique to cease dropping cash.
When he returned to the helm, Disney CEO Bob Iger stated he was on the lookout for a minority associate for ESPN, as a part of his technique to increase its footprint. Getty Photographs
Final summer time, Iger expressed curiosity in bringing on extra minority companions for ESPN along with Hearst. Chapek stated he doesn’t see a strategic profit to this, nonetheless.
Chapek stated he envisioned ESPN changing into a hub for sporting occasions, much like Apple TV’s hub for motion pictures and reveals. AP
The ex-Disney boss stated that as an alternative, ESPN ought to turn out to be a central hub for a lot of sporting occasions. He in contrast this potential model of ESPN to Apple TV, which supplies customers the power to seek for a film or present after which directs them to the streaming service the place it’s accessible.
“I at all times take a look at the enterprise by a consumer-first lens,” Chapek stated. “And because the variety of retailers that broadcast sporting occasions has grown and because the complexity and the schedule of these broadcasts will get increasingly unfold out, I typically suppose that we’ve a really suboptimal expertise for customers.”
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