East meets West: Disney Magical Kingdoms is a collaboration between French and Japanese studios.
LOS ANGELES: ESPN was once considered the crown jewel of Walt Disney Co, the gem in a TV line-up that generated more than 70% of the company’s annual operating profit.
Now the sports network is headed for a second straight year of falling profit, according to RBC Capital Markets analyst Steven Cahall, and has almost single-handedly delivered the worst annual result for Disney’s stock since the 2008 financial crisis. Cahall, cable billionaire John Malone and others are suggesting Disney consider divesting ESPN.
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