ESPN Faces Declining Revenue and Profit as Cord-Cutting Impacts Affiliate Fees

ESPN's revenue and profit have declined recently, causing concern on Wall Street about growth.
The majority of ESPN's revenue comes from affiliate fees paid by cable/satellite providers, but cord-cutting has impacted this critical revenue stream.
ESPN's costs for sports programming rights, including contracts with major sports leagues, have significantly increased.
Disney is considering selling a stake in ESPN to strategic partners to assist with distribution or content.
ESPN's streaming service ESPN+ has limited marquee games, with most subscribers purchasing it as part of a bundle with Disney's other streaming services.