The Walt Disney Company's (NYSE: DIS) CEO, Bob Chapek rejected calls by an activist investor, Daniel Loeb's Third Point LLC to spin off ESPN. In an interview with Financial Times, Chapek pointed out that Disney had been inundated with interest from companies this year following the rumors that Disney could spin off or sell the cable network. Chapek told Financial Times, "If everyone wants to come in and buy it . . . I think that says something about its potential. I think its potential is within the Disney company." He added that Disney had plans for ESPN that will "restore ESPN to its growth trajectory.
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