With the closing of Fox acquisition and its upcoming streaming services, Walt Disney is turning over a new leaf, Goldman Sachs said.
With the closing of the 21st Century Fox acquisition and its upcoming streaming services, Walt Disney is turning over a new leaf, Goldman Sachs said.
"It is the dawn of a new era at Disney," said Goldman analyst Drew Borst in a Thursday note."The $70 bn acquisition of Fox is now closed and the approaching debut of Disney+ streaming service in late CY19 marks a momentous shift in the company's content monetization model from third-party licensing to direct-to-consumer streaming."
It has not been easy for Disney trying to compete with streaming giants like Netflix.The media company recently revealed in a filing that its investment in Hulu was the primary contributor to a $580 million loss in equity investments. Shares of Disney have significantly underperformed the market this year with a 2.6 percent gain, versus the S&P 500's more than 13 percent surge.
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