The main justification for the rumor is Disney is legally obligated to buy Hulu next year - and they don't have $30 - 60B sitting around. Saying "No thank you" is not an option. They must cough up the money to buy out Comcast, and Comcast is NOT sympathetic to Disney's losses in the market.
This list is by no means complete, but I'm avoiding anything political. The money problems are enough.
- Disney stock was worth almost $200 per share at the beginning of 2021, it's worth $93 today.
- Apart from Avatar 2 Disney hasn't had a real box office hit since Endgame.
- Disney spent $57B on 20th Century Fox in 2019. To this day it's difficult to see how this purchase has generated enough value for the company to justify the purchase.
- Disney took out a ton of loans during COVID to cover losses from having the parks closed.
- Pixar is a damaged brand. Disney just cleaned house and fired everyone responsible for Lightyear.
- Elementals has soft numbers and it's opening this weekend against The Flash.
- Star Wars is a damaged brand and Mandalorian S3 shook off a bunch of fans who were only holding on by a thread.
- Star Wars is dead in the toy aisle. Even Baby Yoda is a peg warmer.
- Galactic Star Cruiser is closing in September after 18 months, costing Disney at roughly $2B
- Marvel hasn't had a real hit since Endgame, and "The Marvels" isn't going to change that.
- Johnny Depp has just refused - again - to ever play Captain Jack Sparrow, effectively killing that Disney franchise.
- Indiana Jones 5 got horrible reviews at Cannes and Disney sunk no less than $300m into production.
- The Little Mermaid flopped so badly Disney may pull the plug on further live action remakes not already in production. Spiderverse killed Mermaid's second weekend and The Flash opens on Friday. Production cost $250m, marketing another $200m, and worldwide TLM has only made $450m. Theaters get 50% of the ticket sales, so Disney is not in the black yet.
- Disney+ is losing on average a quarter of a billion every time Disney has a quarterly shareholders meeting.
- Disney+ just pulled off a chunk of original content so they don't need to pay residuals - including Willow after less than a year.
- The WGA strike has put all filming on hold during a period when Disney desperately needs new content for Disney+
- Disneyland and WDW parks are hurting at a time when Universal is getting ready to open their Nintendo park.
As I said, this list could go on and on, so the question is "At a time when the company is already in crisis, what does Disney sell to scrape together 30 - 60 Billion Dollars?"
Maybe it seems like a stretch to sell LFL, but Disney
MUST sell some assets.