Disney COO Tom Staggs on Thursday "reiterated the company’s belief in ESPN and the continued delivery of the sports network’s programming via traditional television bundles, rather than any near-term move to new digital platforms," according to James Rainey of VARIETY. Staggs' remarks came at the Bank of America/Merrill Lynch Media, Communications & Entertainment Conference in Beverly Hills. He said that he thought a recent "sharp downturn in Disney stock" following a small decline in ESPN subscribers "was overblown." Staggs: "The market overreacted. We feel good about where we sit. ESPN continues to be one of the most important and valuable brands in programming." Staggs said that he thought ESPN's "trove of sports rights deals had been underestimated." Some of the arrangements "stretch all the way" to '30. He cited U.S. Open tennis and college football "as two strong franchises for ESPN, on both old and new platforms." As an example, Staggs said that the audience for college football digitally, via WatchESPN, "was up 60% on opening weekend" (VARIETY.com, 9/10).
