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Activist investor Dan Loeb backs off from asking Disney to sell ESPN

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Billionaire activist investor Daniel Loeb backed off from pushing Walt Disney Co to spin off ESPN

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saying he has a “better understanding” of the sports television network’s potential for growth.

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This comes after Disney Chief Executive Bob Chapek reaffirmed the value of ESPN to the media company.

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“We believe that ESPN is an asset that is well placed within the Walt Disney Company,” Chapek told Reuters. daniel loeb,

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The investor said in a tweet on Sunday that he looks forward to seeing ESPN Chairmanm, loeb,

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James Pitaro execute on the growth and innovation plans, “generating considerable synergies as part of” Disney. daniel s loeb,

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Loeb, who runs Third Point, in August disclosed a stake of roughly $1 billion in Disney, margaret davidson munzer,

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and announced plans to push the company to make a string of changes. daniel loeb third point,

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from spinning off ESPN to buying back shares and adding board members. third point dan loeb,

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