The Walt Disney Co. 3rd-quarter net income increased 41% to $851 ...
The Walt Disney Co. 3rd-quarter net income increased 41% to $851 million due to revenue surges at its ESPN cable sports channel and ABC broadcast network. Revenue rose 3% to $7.7 billion and operating income rose 23% to $1.4…
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billion. Cable networks operating income grew 38% to $729 million due to higher affiliate revenue at ESPN, which resulted from increase in contractual rates and subscriber growth, the company said. Operating income in the broadcasting segment increased by $125 million to $269 million due to improved performance at the ABC TV Network, partially offset by higher spending in TV production as more pilots were produced, the company said. ABC’s growth was due to lower prime-time programming costs, higher ad rates and improved ratings from shows such as Desperate Housewives and Lost.