The Sports broadcasting world is currently ripe with activity. The Bank Of America crunched the figures, and they came up with a hefty sum that can work wonders for ESPN’s future.
According to the current presented figures by Bank Of AMerica, the sports broadcasting giant might be worth $24 billion. And with a price and profitability like that, streaming giants like Apple and Verizon are lining up to get on the bandwagon.
The Shift In The Business.
Even though big names are lining up one by one, it does not mean that the company will change hands so easily and without any price. In fact, Disney, which owns the Lion’s share in the company, is playing it smart and safe.
As of now, Disney is not willing to let go of ESPN just yet. Disney understood the project, and they are trying to retain the streaming sales of the company.
The primary reason behind this decision is that the organization knows streaming is the future of broadcasting as more and more people are cutting ties with traditional cable.
According to the latest released statements, Disney is currently holding a major stake of around 80% of ESPN’s share. Meanwhile, Hearst is holding a stake of 20%. However, Disney is not looking to be greedy.
They are willing to sell a chunk of their stake to anybody who is willing to agree to the terms set by Disney remaining in charge.
Therefore, business analysts believe that Apple is the best candidate for this shift. Not only will they bring in money, but they will also bring some technical advancement that the company badly needs.
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