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ESPN struggles won’t go away, but Disney’s CEO thinks he has the answer

Walt Disney Chief Executive Bob Iger and his media empire haven’t been able to escape the challenges of a changing media landscape that continues to have a major impact on one of the company’s most prominent assets.

A floundering ESPN, with rising costs and declining viewership, continued to sink Disney’s DIS, +0.00% financial results during its fiscal first quarter.

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Disney revenue fell 3% in the quarter to $14.8 billion, which was below expectations, and profit dropped 14% to $2.5 billion. Disney faced tough comparisons at its film studio and for consumer products due to the success of “Star Wars: The Force Awakens,” which was released in December 2015, but ESPN was a clear sore spot.

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