Disney CEO Bob Iger Provides Update On Fox Acquisition

Disney CEO Bob Iger Provides Update On Fox Acquisition

Disney CEO Bob Iger Provides Update On Fox Acquisition

He believes that subscribers are expecting the new streaming service to be populated with Disney products and that the company's ability to offer consumers these big name franchises means it won't need to flood its service with expensive hit-or-miss content. Analysts had predicted revenue of $4.87bn.

In December, Disney announced a $66.1 billion deal, including debt, to acquire many parts of Fox.

Its adjusted EPS came in at $1.89 versus $1.61 expected by analysts, according to Thomson Reuters.

All this is before having to cope with other TV stations in decline - including the cable networks it'll get from Fox.

Adjusted EPS does not include a $1.6 billion benefit related to recent changes in USA tax law and certain other one-time items. He said the plus service will be integrated with a totally redesigned ESPN app that will also have customizable scores and highlights and, for cable subscribers, live streams of ESPN's over-the-air networks.

On the studio side, revenue dropped by 1% and operating income decreased by 2% due to slower home video sales of Cars 3, compared to the previous year's Finding Dory. But many sports fans might be left wondering what exactly they are paying an extra five dollars a month for.

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Iger also emphasized that Disney's output deal with Netflix for Black Panther, Incredibles 2 and other films released through the end of 2018 doesn't last forever. It will enhance our direct-to-consumer initiatives with platforms, technologies, brands and existing customer relationships to build on.

Tuesday's investor call was a busy one for Disney, who took the opportunity to lock down plans for multiple Star Wars TV projects along with a new film series from David Benioff and D.B. Weiss, the creative masterminds behind HBO's über-popular Game of Thrones.

The theme parks division generated $1.3 billion in operating income for the quarter, helped by strong park attendance and cruise ship bookings over the Christmas and New Year's holidays, Disney said.

Studio revenues fell 1% to $2.5 billion and operating income slipped 2% to $829 million.

Disney is seeking to transform itself into a digital entertainment giant to rival subscription services such as Netflix that let viewers watch films and TV shows online. Last month, Disney gave 125,000 employees a one-time cash bonus of $1,000 each and invested $50 million to create a higher education program for workers.

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