Activist's call for ESPN spin-off may be a tough sell at Disney

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By Dawn Chmielewski and Svea Herbst-Bayliss

Aug 17 (Reuters) – The first time billionaire investor Daniel Loeb began pushing for change at the Walt Disney Co , he got his wish. His hedge fund Third Point LLC in 2020 called on the company to suspend its dividend and go all-in on streaming.

Visit to the 2018 FIFA World Cup Russia Football Park on Red Square ...

Days later, the company announced it was betting big on growing its trio of streaming services, Disney+, FIFA World Cup the sports-focused ESPN+ and adult-focused Hulu. Just two years later, Disney surpassed streaming pioneer Netflix Inc in total subscriptions.

Now, after a brief hiatus, Loeb is back and investing $1 billion in Disney, FIFA World Cup emboldened by making the right call on streaming.

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