Former Hulu Chief Joe Earley Takes Charge Of Disney's Streaming Business, A Critical Growth Pillar - Walt Disney (NYSE:DIS)

On April 5, Walt Disney Co DIS named Joe Earley as president of its direct-to-consumer business, effective immediately.
Earley, who most recently served as president of Hulu, will lead Disney Entertainment’s streaming efforts, including Disney+ and Hulu, reporting to Alan Bergman and Dana Walden, co-chairs of Disney Entertainment.
Earley succeeds Michael Paull, who is leaving the company after six years.
Earley will expand the company’s streaming efforts in his new role and drive impactful and resonant programming and engagement offerings across Disney+ and Hulu. In addition, he will continue leading Hulu until it appoints a successor.
Earley joined Disney in January 2019 to oversee Disney+ marketing and operations. He was named president of Hulu in January 2022.
CEO Bob Iger, who rejoined Disney in November with a mandate to improve returns, has been restructuring the company, which will save Disney $5.5 billion, partly by eliminating 7,000 positions.
Disney agreed to buy Comcast Corp’s CMCSA one-third stake in Hulu next year in a deal that would value that business at $27.5 billion or more.
Iger has recently suggested he might sell the operation, however. Disney appointed Goldman Sachs Group Inc GS to advise on its options, Bloomberg reports.
Disney counts on streaming as one of the pillars of Disney’s future as revenue from cable television slides. With investors pressing media companies to boost the returns from streaming, Iger aims for that business to break even by next year.
Price Action: DIS shares traded higher by 0.09% at $100 premarket on the last check Thursday.
Photo by Anthony Quintano via Flickr

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