Disney has decided to keep ESPN

Disney has decided against spinning off ESPN, people familiar with the matter told Business Insider, in one of the first major calls of new CEO Josh D'Amaro's tenure.

The question of whether Disney would turn ESPN into a stand-alone company has hung over the company for years, as some investors and analysts argued that the declining cable business was a drag on the larger company's value.

Instead, the sports network will stay inside the media giant, which thinks its presence will help its pivot to streaming, the people said.

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