The Magic Kingdom is at risk of losing some of its magic.
For years, Disney was the envy of its industry, the media giant that thrived like no other. The firm’s stock rose 335% between CEO Bob Iger’s appointment in March 2005 and one year ago, when the stock peaked at $120 a share. Since then, the stock has lost more than a fifth of its value, thanks to the impact of cord cutting on its cable properties, notably sports behemoth ESPN.
