The news comes after Disney announced its intention to follow in the footsteps of increasing numbers of cable nets, with the launch of an ESPN-branded multi-sport video streaming service in early 2018.
But all is not lost for the site, with Variety reporting that it's still fighting in negotiations to hold onto the streaming rights to films from Disney's lucrative subsidiaries, like Marvel Studios and Lucasfilm.
Trump on North Korea; Google scandal; Trouble at Snap
US crude rose 0.43 percent to $48.80 per barrel and Brent was last at $52.01, up 0.21 percent on the day. Appetite for haven assets continued to support gold, which rose 0.2% Friday to $1,293 a troy ounce.
Right now, the Disney films which leave theaters are run by Netflix in the US.
(The migration will not include Marvel properties like Jessica Jones and Luke Cage which are under a different deal.) Chief Content Officer Ted Sarandos told Reuters that Netflix are still discussing an agreement that could keep the Lucasfilm and Marvel Entertainment around into the 2020s.
Disney's plan to stream its content directly to consumers is "a natural evolution" for traditional media companies that Netflix expected, Sarandos said in an interview at an event to celebrate Emmy nominations for his company's drama, "The Crown". "That's why we got into the originals business five years ago, anticipating it may be not as easy a conversation with studios and networks", he told Reuters.
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