Walt Disney (DIS) could sell more films and TV series to rivals - Bloomberg

February 3, 2023 2:07 PM EST

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Walt Disney (NYSE: DIS) is looking at potentially selling more of its films and television series to rival media outlets, according to Bloomberg, citing people familiar with the discussions.

The business is said to be looking into the move in a bid to earn more cash from its content library and curb the losses in its streaming business.

Any such move for the Burbank, California-based company would represent a shift in strategy, with Disney previously keeping much of its original programming only on Disney+ and Hulu.

There is pressure on Disney to improve its financial performance and change its streaming strategy. The stock is down more than 20% in the last 12 months.

In its third quarter, Disney reported a $1.5 billion loss for its online video business and the company's board replaced Chief Executive Officer Bob Chapek with Bob Iger, who previously held the role. Iger has the task of redesigning the company's organizational structure, which includes reversing some decisions made by the former CEO.

According to Bloomberg, the restructuring will result in personnel cuts, although it is not clear how many people will lose their jobs.

The publication adds that Disney management has discussed selling more titles to third parties, although it remains to be seen if they keep them in-house or not.

By Sam Boughedda

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