Loeb reconsiders his ESPN spinoff proposal

In a tweet, Dan Loeb said he would stop pressuring Disney to sell off ESPN. The tweet follows comments made by Disney CEO Bob Chapek at this weekend's D23 Expo.

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The CEO of Third Point stated in a tweet early on Sunday that Disney's sports network should continue to be a separate vertical.

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He praised Disney Chairman James Pitaro, saying, "We look forward to seeing Mr. Pitaro deliver on growth and innovation initiatives."

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The tweet comes after comments made by Disney CEO Bob Chapek, who claimed to have big plans for ESPN. According to Chapek, "We received no fewer than 100 inquiries from parties interested in acquiring ESPN."

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Additionally, Loeb requested that Disney add Hulu to its Disney+ direct-to-consumer platform. In two years, Comcast will sell Disney 33% of Hulu.

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Disney was urged by Loeb to "make every effort" to acquire the remaining minority stake.

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