ESPN could be valued at $24 billion, likely buyers Apple and Verizon

Walt Disney’s ESPN sports network could secure an enterprise value of $24 billion and attract investment interest from sports leagues, tech firms like Apple and telecom majors including Verizon, according to BofA Global Research.

 

In a bid to lure an outside investor, the media giant last month disclosed the financials of ESPN that revealed declining sales and profit at the network considered to be the crown jewel of its traditional TV business.

 

CEO Bob Iger has said Disney wants to keep ESPN and will try to create a streaming app for it by either forming a joint venture or finding a buyer for a minority stake in the network. That means a 36 per cent  interest in ESPN would be up for sale, assuming Disney intends to retain a 51 per cent majority interest and accounting for media company Hearst’s 20 per cent stake, BofA analysts led by Jessica Reif Ehrlich wrote in a note published Wednesday. 

Disney begins appraisal process for Hulu stake Walt Disney said it plans to buy Comcast’s one-third of the Hulu streaming service, kicking off an appraisal process that will extend into next year.

 

The entertainment giant said in a statement Wednesday that it expects to pay at least $8.61 billion for the stake, including capital contributions payable to Disney by Comcast. Under a previous deal, they agreed that the total value of Hulu would be no less than $27.5 billion.