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Buy Walt Disney stock today which is + 0.37% pre-market to $ 115.61 after activist investor Dan Loeb recoils from a previous request to seek the sale of its ESPN television network. Loeb said in a tweet that he and his hedge fund Third Point LLC, which manages about $ 14 billion in assets, have a better understanding of ESPN’s potential as a standalone business and another vertical for Disney to reach a global audience to generate. advertising and subscriber revenue.
Loeb’s new position comes following weekend comments from Walt Disney CEO Bob Chapek, that ESPN remains “critical” to its overall media strategy despite receiving more than 100 inquiries from companies and investors looking to buy it.