Disney reorganizes segment reporting: DMED split into Entertainment & Sports; consumer products revenue reallocated

Walt Disney Co

Effective Q4 FY2023, Disney Media and Entertainment Distribution split into two segments: Entertainment and Sports.
Entertainment segment includes Linear Networks, Direct-to-Consumer, and Content Sales/Licensing; Sports includes ESPN and Star.
Consumer products revenue from Experiences segment will allocate a portion to Entertainment as IP royalties, consistent with pre-2020 approach.
Recast segment results for FY2021, FY2022, and first nine months of FY2023 show no change to net income or EPS.

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