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Disney’s CEO Is Scrapping Once-Sacred Businesses

  • TV channels, schools in China and ‘Frozen’ musical get the ax
  • The former home-video chief pushes hard into streaming TV
Bob Chapek

Bob Chapek

Photographer: Patrick T. Fallon/Bloomberg
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When Walt Disney Co. announced that it had closed more than 20 foreign TV channels last week, Chief Executive Officer Bob Chapek looked like he was taking the knife to a big chunk of the company’s international audience.

The move would have been unthinkable a few years ago. But Chapek -- less than six months after succeeding longtime CEO Bob Iger -- is using the Covid-19 crisis to transform Disney much faster than expected, all with an eye toward making the company an online juggernaut that reaches far more people worldwide.