Disney, under the leadership of CEO Robert Iger, has expressed its intention to retain its valuable sports network ESPN while seeking strategic partnerships to propel it into the realm of direct consumer engagement.

In an interview with CNBC on Thursday, Iger, who recently had his contract extended until the end of 2026, suggested that Disney could potentially sell certain struggling traditional TV assets, which have faced challenges in the wake of the surging popularity of streaming services.

Iger emphasized that Disney is keeping an open mind and exploring options for strategic collaborations in the areas of distribution and content to support ESPN. The company aims to remain a prominent player in the sports business.

Although Iger acknowledged that ESPN has faced the impact of declining cable subscribers and escalating fees paid to sports leagues, he expressed the company’s commitment to finding viable solutions.

In an effort to manage costs and meet financial targets, ESPN recently laid off approximately 20 personalities, Reuters reported.

Furthermore, Iger addressed the ongoing strike by Hollywood writers, deeming it ill-timed given the additional disruptions caused by the COVID-19 pandemic.

As negotiations between the actors union and studios reached an impasse, leading to a unanimous recommendation for a strike, Iger voiced concern over the detrimental effects such actions could have on the entertainment industry. He emphasized that the strikes would likely inflict severe damage on the entire business.

Despite these developments, Disney’s shares remained relatively stable in a market that displayed overall strength.