Walt Disney Co. announced plans Tuesday to sidestep partners like Netflix Inc.by offering content directly to consumers.
The decision rattled investors and sent shares of both companies down by as much as 5 percent in pre-market trading on Wednesday. While the move is certainly a blow to Netflix, payments from the streaming service to Disney peaked in 2015 and have been in decline for a few years now.
Source: Bloomberg Pro Terminal
Jr Trader Ivan Ivanov
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