Disney CEO Says Covid Isn't To Blame For Streaming-Focused Reorg

Just a year ago, Disney+ was a brand new beast in the streaming space, hitting the ground running with a fabulous first season of The Mandalorian. Now, streaming is becoming a focus for the company and prompting a major reorg in the process.

Disney is restructuring to focus on its direct-to-consumer strategies, and will centralize its various media businesses into a single organization responsible for content distribution, ad sales, and streaming.

"I would not characterize [the reorganization] as a response to Covid," Disney CEO Bob Chapek said on CNBC's Closing Bell program. "I would say Covid accelerated the rate at which we made this transition, but the transition was going to happen anyway."

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