Reorganizes to Focus on Streaming

Reorganizes to Focus on Streaming

Iger, Disney's chief executive, did not mention Disney's pending $52.4 billion acquisition of various Fox businesses, which still must receive government approval, in Wednesday's announcement.

The Walt Disney Company has announced a reorganization of the company, creating a direct-to-consumer division that will include all of the company's streaming ventures and be overseen by Kevin Mayer, the company's chief strategy officer, Variety reports.

On top of this action, Walt Disney's Parks & Resorts unit will combine with its Consumer Products operations for a new hew hub where Disney's stories, characters and franchises can come to life.

"I want to thank Bob for giving me the opportunity to lead the talented teams who, through the power of new technology and innovation, are creating the future of entertainment viewing", Mayer said in a statement.

More news: UConn, Notre Dame, Louisville, Mississippi State top seeds in women's NCAA Tournament

It will also include BAMTech, which the company acquired from Major League Baseball a year ago, as well as the soon-to-launch ESPN+ streaming service, the Disney-Branded streaming service set to launch in 2019, and the company's stake in Hulu. It is pulling its first-run movies from Netflix in 2019 to offer them on the Disney-branded service.

Disney has said that its new structure of Direct-to-Consumer and worldwide segment will serve as a global multiplatform media powerhouse using the technology and distribution organization for content from Disney's Studio Entertainment and Media Networks groups. Also, Disney's program-sales operations headed by Janice Marinelli-including global distribution of film and television content to the Disney-branded direct-to-consumer streaming service, Hulu and other third-party platforms and channels, as well as Movies Anywhere-will be integrated into the new segment.

The company is responding with its own digital push.

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