Bob Iger returned last month as Disney CEO, replacing Bob Chapek, who replaced him in 2020. As 2022 comes to an end and 2023 is about to start, CNBC’s Jim Cramer is offering advice to Iger heading into the new year.
On Tuesday’s edition of “Squawk On The Street,” Cramer stated that he wants the Disney CEO to sell ESPN because the sports network does not make its parent company enough money.
The CNBC host believes ESPN did not use their products enough because he had just gotten done watching “Monday Night Football” as the reasoning for his claim.
“We watch ESPN, like last night you watch ESPN football and realized they have not fully used their library,” Cramer said (h/t Mediaite). “I think they themselves have reduced cost at a phenomenal rate since Bob ran DIS last time. I like the idea.”
“Apple dropped out; there’s too many people in the Direct TV thing. I think that both Amazon and, maybe to a less degree, Google understand somewhat gambling. Neither seems to understand that the fourth quarter in the NFL is watched cause of DFS, cause of daily fantasy, and because of regular fantasy.”
Furthermore, Cramer noted that he only sees two companies with the potential to buy ESPN should Disney ever consider selling the network.
“There’s 55 million people that play fantasy,” Cramer added. “None of these people seems to have a clue, with the exception of ESPN, how to profit off of that.
“Unless you’re Alphabet or Amazon, you don’t have the money.”
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
