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Disney sees operating income growth at cable networks [April 18, 2014] LOS ANGELES (Reuters) — Walt Disney Co's cable networks are expected to record high single-digit growth in operating income and domestic affiliate revenue from fiscal 2014 through 2016, Chief Financial Officer Jay Rasulo told investors on Thursday. |
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"We feel very good about the long-term growth of
our cable business," Rasulo said at a meeting for investors at
its the company's ESPN headquarters in Bristol, Connecticut. Disney's cable operations reported $6 billion in operating
income, a 6 percent increase, for the 2013 fiscal year ended
September 28. The unit includes sports channel ESPN, the Disney
Channel, ABC Family and others. The company may make more deals that allow pay-TV providers to
offer Disney-owned networks over the Internet and outside of a
traditional TV subscription, Rasulo said. Dish Network Corp
reached an agreement with Disney in March to offer that type of
"over-the-top" package. The Dish deal "is very unlikely to be the last," Rasulo said. Disney recently renewed distribution deals with eight of the top
10 U.S. pay-TV operators, he said. It expects to reach
agreements by year end with the other two — satellite TV
provider DirecTV and the National Cable Television Cooperative,
which negotiates programming deals on behalf of more than 950
small U.S. cable operators. (Reporting by Lisa Richwine; edited by Ronald Grover, Andre Grenon and Leslie Adler) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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