Optics vs. Substance in Restructurings at Disney ($DIS), Netflix ($NFLX), and Warnermedia ($T)

Restructuring solves for very different problems in streaming at Disney, Netflix, and WarnerMedia

I wrote about Peacock back in January after its investor reveal day: "Peacock's value proposition needs to make so many different target customers happy, there is a tangible risk that no one will be happy with the Peacock service."

My point, then, was that consumers, advertisers, MVPD/Distribution partners, engineering and managerial talent, and investor…