New ‘Star Wars’ tril­ogy raises hopes for Dis­ney Co

Daily Sabah (Turkey) - - Business -

THE FORCE of “Star Wars” lifted Walt Dis­ney Co shares as the prom­ise of a new film tril­ogy over­shad­owed dis­ap­point­ing quar­terly re­sults and strug­gles at the me­dia com­pany’s tele­vi­sion busi­ness. The sto­ried movie stu­dio and theme park op­er­a­tor is scram­bling to keep view­ers who are aban­don­ing its cur­rent top money maker, cable net­works. The power of its char­ac­ters and brands are the rea­son many in­vestors stick with the com­pany de­spite its chal­lenges. Dis­ney shares rose more than 1 per­cent af­ter Chief Ex­ec­u­tive Bob Iger said Dis­ney had struck a deal with Rian John­son, di­rec­tor of up­com­ing film “Star Wars: The Last Jedi,” to cre­ate a new tril­ogy in the block­buster sci­ence fic­tion se­ries. A live-ac­tion “Star Wars” TV se­ries also is be­ing de­vel­oped for a stream­ing ser­vice that Dis­ney is launch­ing to cap­ture on­line au­di­ences, Iger said. To­tal rev­enue from Dis­ney’s cable busi­ness, the largest unit which in­cludes ESPN and the Dis­ney Chan­nel, fell marginally to $3.95 bil­lion in the fourth quar­ter, miss­ing the $4.06 bil­lion con­sen­sus of an­a­lysts polled by Thom­son Reuters I/B/E/S.

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