Walt Disney to terminate the contact with Netflix

The largest American conglomerate Walt Disney wants to own a bigger piece of streaming pie and start its ow n streaming service. The company decided to terminate an agreement with Netflix and to remove the video content produced by Disney including Marvel and Pixar movies. The new streaming platform will be available starting from 2019. The company will also launch its own ESPN video streaming service which is owned by Disney together with Hearst Communications.

News adversely affected the shares of both companies. Disney stock fell 3.7%, while shares of Netflix fell 1.4%. The trade will be available during American session from 13:40 till 20:00 (GMT).

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions