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CEO Bob Iger: Disney Is In Extremely Healthy Shape

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CEO Bob Iger: Disney Is In Extremely Healthy Shape

Walt Disney Co (NYSE: DIS) CEO Bob Iger was a guest on CNBC's "Closing Bell" Tuesday to discuss the company's Q3 results.

Iger began the interview by pointing out that Disney's earnings report represents the 12th consecutive quarter of double-digit growth. He added that Disney's studio business grew more than 60 percent, the theme park segment had a "great" quarter and ESPN was "strong."

"I think it was a good quarter - it is a quarter you can look at and assume that the company is in extremely healthy shape," he said.

Related Link: Disney Escapes Difficult Q3 With 12th Consecutive Quarter Of Double-Digit EPS Growth

BAMTech Acquisition

In conjunction with Disney's earnings print, the company announced it acquired a $1 billion minority stake in MLB Advanced Media's spin-off company, BAMTech.

BAMTech provides direct-to-consumer video solutions with a specialized focus on live events and was formed by Major League Baseball. Disney also obtained the option to boost its ownership stake from 33 percent and become a majority owner.

Iger said buying a stake in BAMTech is a "good investment" and he "loves the business model" of being able to stream live sporting matches also represents a "competitive advantage."

Iger suggested the stake in BAMTech will also help "jumpstart" many of its business lines and not just ESPN into a space that is "exciting" as well as being "important and dynamic."

"It will be an ESPN-branded service that will include products BAMTech already has licensed from the MLB and NHL," the executive expanded. "We'll add to it a staple of product that ESPN has including a lot of college sports. It will be a collection of many different sports."

Posted-In: BAMTech Bob Iger CNBC MLB Advanced MediaEarnings News Media Best of Benzinga

 

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