By Ben Fritz

Disney shot down persistent questions about whether it will sell or spin off some of its linear television networks, as NBCUniversal has done and Warner Bros. Discovery was planning to do before agreeing to be acquired by Paramount Skydance.

CFO Hugh Johnston said on an earnings call with analysts that a sale or spinoff would be "highly complex and in our view unlikely to create value for shareholders especially given where linear networks are valued in today's marketplace."

He said the networks produce important series like "High Potential" and "Shogun" for the Disney+ and Hulu platforms, and called out the value of sports on ESPN in reducing streaming churn.

Johnston's comments came as part of a revamped earnings presentation by Disney, which included answering pre-screened questions and releasing a 3,000-word letter to shareholders.

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May 06, 2026 10:33 ET (14:33 GMT)

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