The Walt Disney Co. reported revenue of $14.28 billion in its fiscal third quarter, ended July 2, paced by a 40% jump in studio revenue on continued strength in family animation (Finding Dory, Zootopia) and live-action hits (Captain America: Civil War). Operating income gained 8% to $4.46 billion.
The company also announced a groundbreaking plan for taking its ESPN crown jewel over-the-top via a $1 billion investment in BAMtech, the video streaming unit of Major League Baseball.
Without the deal, cable and broadcast networks held steady and the company did not report any further signs of subscriber erosion or alarming indications of the networks' health. Revenue in the networks unit inched up 2% to $5.9 billion, while operating income was flat at $2.37 billion.
Read more at broadcastingcable.com.
