Slow TV Ad Sales Behind Disney’s 26% Profit Plunge in 3rd Quarter

Jul 31, 2009  •  Post A Comment

Soft advertising sales at ABC and ESPN and decreased consumer spending at Disney World sent profit at Walt Disney Co., the world’s largest media company, tumbling 26 percent for its fiscal third quarter, the New York Times reports.

Over all, Disney’s net income fell to $954 million, or 51 cents a share, from $1.28 billion, or 66 cents a share, in the year-ago period. Revenue fell 7 percent, to $8.6 billion, the Times says.

At the media networks division that includes ABC and ESPN, profit declined 13 percent to $1.3 billion and revenue dipped 2 percent to $4 billion, the paper added.

–Tom Gilbert

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