Disney shakes up business to focus on streaming

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The company is merging its TV networks, film studio and direct-to-consumer divisions into one big group it is calling Media and Distribution, Disney said on Monday . Existing content chiefs will continue to oversee their businesses, but they will now be directly able to choose what movies and TV shows air on Disney's growing lineup of streaming services.

Investors applauded the move, sending Disney shares up as much as 5.5 per cent in late trading. Shareholders such as Third Point's Dan Loeb have urged the company to put more resources into streaming. He sent a letter last week to Disney chief executive officer Bob Chapek saying it was time to move on from movie theaters, which he compared to horse-drawn carriages.

"Given the incredible success of Disney+ and our plans to accelerate our direct-to-consumer business, we are strategically positioning our company to more effectively support our growth strategy and increase shareholder value," Chapek said in a statement.

I'm surprised Disney doesn't just buy Netlfix. Though with the market the way it is, Netlfix look more valuable than Disney. Maybe a merger?

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