Disney shares rise more than 7% on digital hub and tech plans
Updated
Updated · MarketWatch · May 6
Disney shares rise more than 7% on digital hub and tech plans
3 articles · Updated · MarketWatch · May 6
Summary
New CEO Josh D'Amaro told an earnings call he wants Disney+ to become a hub for all Disney businesses, with investment focused especially on videogame technology.
The rally extended earlier gains after Morgan Stanley highlighted strong theme-park demand and backed D'Amaro's strategy around intellectual property, consumer engagement and technology-led storytelling.
Chief financial officer Hugh Johnston also rejected suggestions Disney might sell or spin off its linear television networks, unlike recent restructuring moves elsewhere in the media industry.