ORLANDO, Fla. — The Walt Disney Company announced Wednesday that it would change its various businesses.
According to a press release, the company said it would have a “strategic restructuring” of its organization to increase accountability and creativity.
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Disney will now be divided into three business areas: Disney Entertainment, ESPN and Disney Parks, Experiences and Products.
The company said this would help collaboration and control of financial responsibility within marketing, technology, sales and distribution.
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“For nearly 100 years, storytelling and creativity have fueled The Walt Disney Company, with virtually every interaction we have with our consumers emanating from something creative,” said Bob Iger, CEO of The Walt Disney Company. “I am committed to positioning this company for a new era of growth.”
Iger said this restructuring would also ensure the quality of content.
The ESPN segment would include ESPN Networks, ESPN+ and all sports content, products, events and experiences. Jimmy Pitaro will lead this division across domestic and international platforms.
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Disney said its streaming business, Disney+, is still a top priority with the organizational change.
Disney Parks, Experiences and Products, which includes theme parks, resort destinations and cruise lines, will continue under the same leadership.
Alan Bergman and Dana Walden would be co-chairs for Disney Entertainment.
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Bergman will oversee the following brands:
- Disney Live Action
- Walt Disney Animation Studios
- Pixar Animation Studios
- Marvel Studios
- 20th Century Studios
- Searchlight Pictures
- Disney Music Group
- Disney Theatrical Group
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Walden will be responsible for the following content:
- ABC Entertainment
- ABC News
- ABC Owned Televisions Stations
- Disney Branded Television
- Disney Television Studios
- Hulu Originals
- National Geographic Content
- Onyx Collective
The company said these changes would take effect immediately.
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