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Disney reorganises businesses, creates direct-to-consumer unit

Reuters  |  LOS ANGELES 

(Reuters) - Walt Co announced a reorganization on Wednesday that will create a new direct-to-consumer and international unit as the entertainment company adapts to a rapid shift toward online and mobile viewing.

Kevin Mayer, the company's chief strategy officer, was named of the new division, which will oversee the launch of a family-oriented streaming service in late 2019, said in a statement.

The move, effective immediately, comes as is in the process of purchasing film, TV and international businesses from Regulators are reviewing the deal, which has been complicated by Comcast Corp's offer for one of the assets, Britain's

Disney also combined its theme parks business with the consumer products unit that licenses characters for toys, apparel and other merchandise. Bob Chapek, the current head of the parks division, will oversee the combined unit.

and the movie studio will remain separate units, Disney said.

Disney shares were up slightly at $104.09 in afternoon trading on the New York Stock Exchange.

(Reporting by Lisa Richwine; Editing by Bernadette Baum)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 14 2018. 22:19 IST