NEW YORK, Feb 11, 2026, 11:15 EST — Regular session
- Disney’s stock slipped roughly 1.2% to $108.63 during the morning session.
- Disney+ is set to come with certain Sky TV packages in the UK and Ireland starting in March, according to the company.
- Disney’s first foray into the investment-grade bond market since 2020 is drawing investor attention, too.
Walt Disney Co shares slipped 1.2% to $108.63 Wednesday, paring back some of their recent gains as investors absorbed a new Disney+ distribution agreement alongside updated financing plans.
Here’s the angle: streaming giants are struggling to juice growth, so they’re doubling down on bundles to keep subscribers from bolting and to bulk up their ad footprints. Disney’s latest move in the UK and Ireland drops it into a pay-TV “super-aggregator,” where audiences are already used to flipping through apps as if they’re just more channels.
Media groups are still looking to keep room on their balance sheets. Disney heading back into the bond market looks like the classic move—catch the window, say little about why now, but don’t miss the chance.
Disney’s fresh multi-year pact will fold Disney+ Standard with Ads into select Sky TV bundles starting March 2026. The arrangement also promises tighter ties between Disney+ and Sky’s OS, plus a dedicated Disney+ Cinema channel for Sky Cinema subscribers. “Simple, seamless”—that’s how Disney+ EMEA chief Karl Holmes described the new setup for Sky viewers. Sky’s Chief Consumer Officer Sophia Ahmad echoed the push for “a single, simple subscription.” 1
Disney is moving ahead with a four-part bond deal, according to a preliminary prospectus supplement. The lineup features one floating-rate tranche pegged to “Compounded SOFR”—that’s the Secured Overnight Financing Rate—and three fixed-rate notes. All the debt carries a guarantee from TWDC Enterprises 18 Corp. 2
The company pulled in $4 billion through a four-part bond sale, Bloomberg said, quoting a source with knowledge of the deal. The notes span maturities from three years out to 10. 3
Disney shares climbed 2.64% Tuesday, leaving both Netflix—up 0.91%—and Comcast, which added 2.21%, behind. The stock had already beaten several other media names the previous day. 4
Traders are still leaning hard on macro moves. The U.S. January jobs report landed late, revealing payrolls up by 130,000 and unemployment ticking in at 4.3%. Revisions, though, reined in the outlook for 2025 job growth, according to Reuters. 5
Morningstar’s Matthew Dolgin, in a note out Wednesday, held firm on his $120 fair value call for Disney, though he cautioned about short-term downside risk. He still highlighted solid momentum in experiences, streaming, and sports. 6
Still, things can turn. Bundles might pull in more viewers even as revenue per user shrinks, and Disney’s reliance on ad-supported models increases its vulnerability to the ups and downs of ad spending and shifting consumer appetites. The bond sale drops another variable into the mix for investors tracking leverage and capital returns.
On deck: traders are eyeing the final pricing for Disney’s bond sale, plus January’s U.S. Consumer Price Index lands Friday, Feb. 13, 08:30 a.m. ET. 7
