The results from the Fox movie studio were “well below” what Disney hoped for “when we made the acquisition,” CEO Bob Iger says.
The agreement gives Disney immediate operational control of Hulu in return for buying out Comcast's minority stake for at least $5.8 billion in 2024.
The company's quarterly earnings and revenue solidly beat forecasts, perhaps opening the door to an early-2019 completion of Fox assets acquisition.
The company announces a major shift to streaming content as operating income from media networks, including ESPN, takes another dive.
Revenue rose 5% to $13.1 billion, but that was below analysts' estimates of $13.23 billion.
Disney CFO Jay Rasulo lost out to Thomas Staggs in a faceoff to succeed Bob Iger as CEO, while Arthur Minson is leaving TWC.
