Disney has done the math on separating its TV networks business, and it appears too messy to be done — at least for now.
The company's chief financial officer, Hugh Johnston, said Thursday on CNBC's "Squawk Box" that the "cost is probably more than the benefit" when it comes to separating its TV networks business, given the "operational complexity."
The future of the traditional TV network business has been top of mind in the media industry.
In late October, Comcast executives said they were exploring a separation of the cable networks business.
Disney reported Thursday that revenue for its traditional TV networks was down 6% for its most recent quarter to $2.46 billion, while profit in the division sank 38% to $498 million.
Persons:
Hugh Johnston
Organizations:
Disney, Comcast