Disney without ESPN? An idea some thought improbable, if not crazy, is now catching on.
Walt Disney Co. has lost some of its sparkle this year. The shares are headed for their worst annual performance since the U.S. recession in 2008, snapping a four-year rally in which the price had nearly tripled. The reversal has Disney's shareholders uncharacteristically restless, waiting to see how Chairman and CEO Bob Iger -- set to retire in mid-2018 -- is going to respond.