LOS ANGELES (Reuters) – Walt Disney Co introduced a reorganization on Wednesday that may create a brand new direct-to-consumer and worldwide unit because the leisure firm adapts to a fast shift towards on-line and cell viewing.
Kevin Mayer, the corporate’s chief technique officer, was named chairman of the brand new division, which can oversee the launch of a family-oriented streaming service in late 2019, Disney stated in an announcement.
The transfer, efficient instantly, comes as Disney is within the course of of buying movie, TV and worldwide companies from Twenty-First Century Fox Inc. Regulators are reviewing the deal, which has been difficult by Comcast Corp’s provide for one of many property, Britain’s Sky Plc.
Disney additionally mixed its theme parks enterprise with the buyer merchandise unit that licenses characters for toys, attire and different merchandise. Bob Chapek, the present head of the parks division, will oversee the mixed unit.
Media networks and the film studio will stay separate models, Disney stated.
Disney shares have been up barely at $104.09 in afternoon buying and selling on the New York Inventory Alternate.
Reporting by Lisa Richwine; Modifying by Bernadette Baum