Disney scraps office project, plans ESPN streaming, removes shows from platforms

Yahoo Finance Live discusses Disney's plans to scrap a planned $1 billion Florida office complex as a result of their ongoing feud with Florida Gov. Ron DeSantis, as well as Disney's plans to sell ESPN's streaming service.

Video Transcript

- We're bringing you three major Disney headlines to end the week. First up, Bob Iger making good on a threats to pull business out of Florida amid an ongoing battle with Governor Ron DeSantis. Disney waving its magic wand and going poof on a $1 billion office complex, which would have brought more than 2,000 jobs to the state according to the Florida Department of Economic Opportunity.

Headline two for Disney, Disney's ramping up plans to sell ESPN as a subscription streaming service. According to a report from "The Wall Street Journal," there the project named Flagship would make its ESPN offering its own streaming service, which could appeal to cord cutters who still want their dose of sports. According to the plan, ESPN would still exist as a cable channel.

And last up, Disney is starting to remove certain shows and specials from Disney Plus and Hulu according to Deadline. This comes as the streamers increasingly look to cut costs amid a renewed focus on profitability. We'll say goodbye to dozens of shows on May 26. Shares of DIS with all this news. They are moving lower premarket by about 0.60%.