Disney to close 100 international TV channels in streaming shift

Walt Disney Co. plans to close 100 of its international TV channels this year as it marches toward a future where streaming services such as Disney+ are front and center.

Chief Executive Officer Bob Chapek, speaking Monday at JPMorgan Chase & Co.’s technology and media conference, said the closures come in addition to the 30 foreign networks the company shuttered last year.

“The great majority of that content will migrate to Disney+,” Chapek said. “That continues to be a core strategy for us as we pivot toward direct-to-consumer.”

The company’s purge of networks last year included the Disney Channel in the U.K., part of Chapek’s efforts to streamline and modernize the entertainment giant.