1 week Fewer movies in theaters? Big Media turns focus to streaming video Inquirer
Walt Disney Co's revamp of its media and entertainment businesses represents Hollywood's latest move to prioritize streaming media, raising questions about how much big media companies will continue to support movie theaters. On Monday, Disney said it had restructured its media and entertainment businesses to accelerate growth of Disney+ and other streaming services as consumers increasingly gravitate to digital viewing. AT&T Inc and Comcast Corp have made similar moves. Disney is facing pressure from activist investor Daniel Loeb, founder of hedge fund Third Point, to increase funding to Disney+ and the rest of its streaming businesses. While Loeb applauded Disney's ... more