Disney (DIS) CEO Bob Iger doesn't think the company needs to engage in mergers and acquisitions to compete in streaming.

"We don't really need more assets right now, either from a distribution or from a content perspective, to thrive in [a] disruptive media world," the executive told investors on the company's fourth quarter earnings call Thursday morning.

"In a way, we've already consolidated," he said, citing the acquisition of 21st Century Fox, announced in late 2017. "And while I think we'll always look opportunistically at opportunities, as we've proven in the past, we certainly don't shy away from those. ... We, in many respects, have already consolidated."

Iger said the Fox acquisition yielded "a tremendous amount of content," calling out key assets like the "Avatar" franchise and eventual full ownership of Hulu.

Management added it's also not interested in divesting or selling off assets it currently owns, although its competitors have hinted at the possibility.

Last week, Warner Bros. Discovery (WBD) CEO David Zaslav said the company is exploring "all things operationally and strategically" to ensure shareholder value. WBD stock has fallen about 14% since the start of the year as tumbling linear network advertising revenue and declining profits pressure revenue.

Rumors have swirled about the company's next move. Bank of America analysts recently laid out possible strategic options that could include a split of the company's digital streaming and studio businesses from its legacy linear TV unit.

Comcast (CMCSA) said it's exploring a similar concept and might spin off its cable networks into a separate company in order to "play offense" amid recent industry turmoil.

But Disney said it's not in the cards for its own business.

"It was pretty clear to me that there wasn't a value-creating opportunity for Disney," Disney CFO Hugh Johnston said on the earnings call. "I can't speak to other companies and what opportunities they have with the assets they have. But I absolutely did not see that for Disney."

Still, Iger has hinted at divesting in the past.

Last summer, he said he would take an "expansive" look at the entertainment giant's traditional TV assets, signaling the potential for strategic options that could include a sale.

He later backed away from those comments, explaining earlier this year that although linear "is not going to be a growth business" it's still "an important component to our ability to engage with the consumer."