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Walt Disney announced on Monday that its restructuring its media and entertainment segments to place a greater emphasis on its growing streaming business. The company is in the midst of a transformation from a television and movie theater-driven distribution model to a direct-to-consumer business that would rival Netflix.
Disney stock (ticker: DIS) was up 5.5% in after-hours trading on Monday.
Disney is creating a new unit that will be focused on commercialization and distribution of its movies, TV shows, and sports content: the Media and Entertainment Distribution group. Meanwhile the companys studios will continue to churn out content, without a bias toward any one form of distribution.
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Read the full article at: https://www.barrons.com/articles/disney-is-restructuring-its-business-around-streaming-51602540518