Activist investor Dan Loeb signaled Sunday morning on Twitter that he is backing off his push to persuade Walt Disney to spin off its popular sports television network ESPN.
The change of heart comes after Disney Chief Executive Bob Chapek said in media interviews at this weekend’s D23 Expo event—an annual gathering of Disney fans where the company announces new shows and films—that he has plans for ESPN to be a big growth engine and a large part of the company’s entertainment offerings.
