Disney CEO Josh D’Amaro doubled down on the company’s opposition to the FCC’s investigations into ABC’s broadcast licenses and “The View” on Friday, arguing that the network wouldn’t be pushed around by the regulator.

“Our position on this is clear. We’re very principled on this. We’re going to stand up to what we believe is journalistic integrity. And we’re not going to be told how to run that side of our business,” D’Amaro said in a CNBC interview during Disney’s D23 Expo. “Our filings, I think, speak for that. I like what we do. We tell incredible stories. I think we do it well. We do it around the world. And we’re going to stay committed to that.”

His comments come as the network has accused the regulator of trying to punish and censor the network over its journalism, in violation of the First Amendment. It has also called for a dismissal of the “untimely and unwarranted” license renewal review.

FCC chairman Brendan Carr has argued the review stems from the agency’s investigation into Disney’s DEI policies, but has also said the network’s decision to limit coverage of a primetime address by President Donald Trump’s primetime address could factor into the proceeding.

The final replies in the FCC’s license renewal proceeding closed on Aug. 5, with Disney and ABC receiving thousands of public comments of support. Carr told reporters last month that the agency would “look at the record and decide based on the evidence before us what the next step will be,” but did not set a specific timeline for a decision.

In addition to its battle with the FCC, D’Amaro was asked about Disney’s M&A strategy amid the pending $110 billion Warner Bros. Discovery-Paramount merger and Comcast’s pending spinoff of NBCUniversal.

D’Amaro said he’s “not considering” a spinoff of ABC or its other entertainment linear networks.

“They’re still spinning off cash for us. The team has done a great job integrating them into our streaming capabilities as well,” he said. “So, I feel good about where we stand on that front.”

He’s also “not interested” in spinning off ESPN, noting that “you can’t help but be jealous” of the company’s sports rights and fandom, touting the company’s NBA Finals and NHL Finals ratings.

“We will start to bring more sports over onto Disney+. So, that casual sports fan will have an opportunity to engage on that front, create more stickiness on the Disney+ platform,” he added. “And then in terms of sports rights, I think that the ESPN team has been really smart about going after those rights that are most important to our business, the highest-quality sports rights, and we will continue to remain focused on that.”

Though he declined to comment on whether or not the Paramount-WBD merger should be approved, D’Amaro said that competitors are trying to acquire scale, IP or additional businesses because they “want to look a little bit more like Disney.”

“We have the deepest library of intellectual property and characters and franchises by far. Our scale is enviable. The connection that we have with fans, you see it here, right here at D23, is palatable. And so we have everything that we need right now,” he said. “Putting those things together under a kind of a one Disney frame I think is exceptionally powerful. So I like the hand that we have.”

At the same time, D’Amaro said he isn’t “dogmatic” and that if opportunities come up that make sense for the business, Disney will take a look.

D’Amaro’s comments come as elements of Disney+’s transformation into a “digital centerpiece” will be introduced starting in the spring. The streamer is also exploring the possibility of launching a free tier, which D’Amaro said would be a “front porch to Disney” and a “really smart thing to do.”

“It gives those that may not have committed to a Disney+ subscription an opportunity to sample everything that we have at the Disney Company. It kind of drives top of funnel, so that ultimately we can convert those guests into a full paid membership. It’s an advertising platform for us, so it gives us the ability to drive revenue on that front,” he said. “And the reality is we participate in some of these FAST channels today. So our thinking is, why wouldn’t we do it ourselves in front of Disney+? So, this to me, is kind of almost a no-brainer and something that we’re looking forward to launching.”

It also comes as Disney’s stock is down 41% in the past five years, 8% in the past year and 4.5% year to date. As of Friday afternoon, Disney stock is trading at $106.80 apiece, below its 52-week high of $119.78 per share but above its 52-week low of $92.18 per share.

“I’m not happy with where the stock stands right now. Our investors aren’t happy with that. But I do believe that we’re sitting in a very great space relative to the entertainment industry,” D’Amaro said. “If we just continue to execute on what we have committed to: streaming growth, top line and margins, continuing to push the envelope on the experiences business, make the conversion to direct-to-consumer on ESPN, and just make great films, which make that flywheel spin, if we keep doing that, I think we’re going to see the returns come back to us.”