Activist investor Dan Loeb indicated that he's going to retreat from his push to get Disney to spin off ESPN.
Activist investor Dan Loeb indicated in a tweet that he's going to retreat from his push to get Disney to spin off ESPN.
In a tweet Sunday morning, the Third Point CEO said he sees the virtue of keeping the sports network as a separate vertical within Disney's conglomerate. "We look forward to seeing Mr. Pitaro execute on the growth and innovation plans, generating considerable synergies as part of The Walt Disney Company," he added, referencing Disney Chairman James Pitaro.
"What does that tell you? That says we've got something really good," he said. "And if you have a strategic plan, a vision for where it fits into the company over the next 100 years, then you don't exactly want to divest yourself of it. And we have that plan. We've not shared that plan."
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