Disney CEO Bob Iger has 'very little room for maneuver' as he tackles layoffs, budget cuts, a company reorg, and questions over the future of Hulu and ESPN
, suggested that the move might mean Iger is considering a sale of Hulu. Puck News on Sunday reported that Disney has hired Goldman Sachs to look at its options. The bank and Disney declined comment. Fixing the linear cable operations is likely to be a top priority for Iger, according to the Hollywood executive."A significant part of operating cash flow is in the cable networks," this person said."He's got to figure that out.
Several sources said Jimmy Pitaro, Chairman of ESPN and Sports Content, has been spending a lot of time in Los Angeles with Iger amid speculation that Disney could spin off the cable sports giant. Spinning off ESPN was also suggested by another activist investor,BofA analyst Reif Ehrlich said it would be tricky for Disney to spin off ESPN. In an investor note last week, she suggested the sports network has an enterprise value of $23 billion if spun out .
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