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Disney Warns “Restructuring, Change In Business Strategy” May Squeeze Financial Results; Notes $900M Payment For Rest Of BamTech

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Disney said an upcoming restructuring under new/old CEO Bob Iger could result in impairment charges. It also noted that, as expected, it’s acquired the remaining 15% of streaming tech company BamTech it didn’t already own, paying $900 million

it didn’t already own, paying $900 million. The news was tucked in a long year-end SEC filing today after a tumultuous ten days for the company.

“As contemplated by the leadership change announcement, we anticipate that within the coming months Mr. Iger will initiate organizational and operating changes within the Company to address the Board’s goals. While the plans are in early stages, changes in our structure and operations, including within

, can be expected,” the 10K filing said. “The restructuring and change in business strategy, once determined, could result in impairment charges.”Bob Iger Tells Disney Town Hall Hiring Freeze Still In Effect, No New Acquisitions Planned & Not Merging With Apple Bamtech, now called Disney Streaming, was previously owned 85% by Disney and 15% by MLB. Disney had the right to buy in the rest of it by a 2023 deadline — five years after it acquired its original stake.

The lengthy filing that recapped the past year’s financials — Disney’s fiscal year ends Sept. 30 — didn’t have much else about the new regime beyond what’s been reported.

 

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