Entertainment & Arts

Disney reorganizes companies, creates direct-to-consumer unit

LOS ANGELES (Reuters) – Walt Disney Co introduced a reorganization on Wednesday that can 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.

A display screen reveals the emblem and a ticker image for The Walt Disney Firm on the ground of the New York Inventory Trade (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid

Kevin Mayer, the corporate’s chief technique officer, was named chairman of the brand new division, which is able to oversee the launch of a family-oriented streaming service in late 2019, Disney mentioned in a press release.

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 supply for one of many belongings, Britain’s Sky Plc.

Disney additionally mixed its theme parks enterprise with the patron 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 mentioned.

Disney shares have been up barely at $104.09 in afternoon buying and selling on the New York Inventory Trade.

Reporting by Lisa Richwine; Enhancing by Bernadette Baum

Yasir Ali
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