While M&A speculation around Warner Bros. Discovery takes hold of the media industry, don’t expect Walt Disney to jump into the fray.
“We’ll see how the various moves play out,” Chief Financial Officer Hugh Johnston. “But we like the hand that we have right now, so I wouldn’t expect us to participate in making any significant moves.”
The comments come amid chatter that other media companies are lining up to consider making a bid on WBD, which has put itself — or parts of itself — up for sale. Comcast and Netflix have both tapped investment banks in preparation for a potential offer, while Paramount has already put in multiple bids for the entire company.
WBD CEO David Zaslav last week said there was an “active” process going on as the company has shared its financial numbers with potential interested parties. The company has said it would provide an update on its strategic review process next month.
Disney appears to be one of the few companies content to sit back and watch the action. Johnston praised CEO Bob Iger and his leadership team’s past effort to assemble a collection IP, ranging from “Star Wars” to Marvel and “The Simpsons,” through previous acquisitions. Next month, Disney is set to release James Cameron’s “Avatar: Fire and Ash,” which it obtained through its 2019 acquisition of Fox Studios.
Next year brings a live action “Moana” and “Avengers: Doomsday.”
“We actually feel like we’ve got a great portfolio and we don’t need to do anything,” Johnston said. “We’ll let this play out.”
