>>106564658There's a point where Disney would be stretching themselves too thin I feel, people treat them like they're a monopoly and in terms of a box office success they are in recent times due to making what the mass market wants to see and having excellent promotion, but at their core they've always been a relatively lean company compared to the other three conglomerates, they squarely operate in the entertainment industry (rather than in telecommunications, technology, and corporate business) and like to maintain a recognizable brand image. If they absorb yet another more "adult-oriented" media company they kind of cease to still be Disney philosophically.
And Nick has very hardline rules about not selling their IPs after what happens to Doug, so if the Sponge gets sold off individually it would have to happen after Viacom is taken over by someone else.
