Walt Disney Co, announced a sweeping restructuring aimed at accelerating its global expansion during a period of upheaval for Hollywood. The entertainment giant said it would combine its international media business and its content streaming operation into one unit and create another division to house its consumer products business along with Walt Disney Parks and Resorts.
Its biggest restructuring in recent years, Disney’s move is the latest effort by a legacy entertainment and media company to adapt to rapid changes in consumer behaviour driven by digital technology. Disney had been expected to make structural changes as it prepared to launch two streaming services and buy film and TV assets owned by 21st Century Fox—a $52.4 billion deal that requires federal regulatory approval. Disney’s new direct-to-consumer and international unit will include the upcoming ESPN+ streaming service, which launches later this year, and a Disney-branded film and TV streaming offering scheduled to debut in 2019.