ESPN's prospects 'could materially worsen' if Charter opts against contract renewal, a KeyBanc analyst said.
ESPN was already expected to be a hot topic for Walt Disney Co. as the company planned to separate out the business’s financials later this year, but now the sports network appears to also be a major sticking point in a distribution dispute.
And ESPN’s prospects “could materially worsen” if Charter Communications Inc. CHTR, -0.44%, which is in an unconventional carriage dispute with Disney DIS, +0.54%, opts against renewing their agreement. Looking at the big picture, Nispel calls ESPN “a melting iceberg” that faces a difficult transition to the streaming landscape. Disney already offers the ESPN+ streaming service, but it doesn’t include live access to ESPN’s flagship programming. The company will ultimately have to transition the core ESPN service into a direct-to-consumer proposition.
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