DKNGZ - Disney: Time To Sell ESPN? Politics Trends May Again Hurt Profitability

• Positive signs abound for Disney as the country reopens, pent-up demand takes hold, and consumer spending soars.
• While Disney stock is flying high and has room to run over the long term, ESPN may become a drag on future earnings as it was in the recent past.
• Sports and sports ratings have major issues including short-term political discord and long-term secular decline among the younger audience.
• Fortuitously, sports gambling has exploded and this trend may be the saving grace for ESPN - if it has staying power.
• I expect calls for a spin-off or sale of the network to resume in the near future.

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