A decline in subscribers and higher programming costs at ESPN have weighed badly on shares of Walt Disney Corp, claimed a Reuters report this Tuesday.
“Investors have been closely watching how ESPN navigates the shakeup in television as viewers defect from traditional pay TV services and online services proliferate,” the article stated.
“Shares of the world’s biggest entertainment company dropped 2.4 percent in after-hours trading.”
What was left unsaid is how the network’s liberal bias and social-propaganda broadcasting has turned off traditional Americans from tuning in. The results are beginning to look like a real crisis for the sports giant.
“ESPN lost subscribers during the quarter and was hit with higher programming costs, in part due to a new, more costly NBA contract,” Disney’s financial chairman said in the earnings report.
“Lower numbers of people watching television is bad news for ESPN.”