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Disney Looking to Sell Fusion Stake

The force is no longer with Fusion, as far as the Walt Disney Co. is concerned.

Disney is looking to get out of its joint venture with Univision, according to multiple reports. Fusion is aimed at the young millennial audience, but Disney recently has been investing in Vice Media, which also looks to attract younger viewers with news-like programming.

According to the Wall Street Journal, Disney wants out of Fusion, which lost $35 million in 2014, by the end of the year. Selling to Univision is one scenario, but finding another buyer could be an option.

Disney is basking in the box office glow generated by its new Star Wars movie. But its cable business is under pressure as ESPN and other channels lose subscribers.

Fusion’s programming efforts are led by Isaac Lee, recently promoted to chief news and digital office at Univision and was in charge of Univision efforts at English language programming and building a music business.

Disney was in charge of distribution and advertising for the channel, which reaches 40 million subscriber and is not rated by Nielsen.