Disney Warns Of Potentially Long Dispute

Walt Disney Co. warned investors Thursday, that its carriage dispute with YouTube TV could drag on for months, sending shares down as much as 9.3% in a single session and wiping out billions in market value.

The blackout began October 30, 2025, pulling ABC, ESPN, FX, and other Disney channels from YouTube TV’s roughly 10 million U.S. subscribers. 

Bob Iger

CEO Bob Iger and CFO Hugh Johnston told analysts the company is demanding “fair rates” and has hedged its forecasts for a prolonged standoff, with YouTube TV rejecting terms Disney calls “equal to or better” than deals with other large distributors.

Disney’s stock (DIS) closed down 6–8% at about $105.84, overshadowing Q4 earnings that beat EPS estimates ($1.11 vs. $1.05 expected) but missed on revenue ($22.46 billion). Traditional TV profit fell 21% to $391 million, while streaming profit rose 39% to $352 million. 

The dispute—YouTube TV’s fourth major blackout since August—highlights escalating tensions over carriage fees as cord-cutting accelerates. Analysts estimate Disney loses $4.3 million daily, or $60 million over two weeks. Consumers miss NFL games, college football, and ABC shows like High Potential, with no resolution in sight.

Disney remains focused on streaming (150+ million global subscribers) and plans an ESPN standalone launch in 2026, while exploring AI tools for Disney+.