ESPN CONTRIBUTES TO DISNEY'S SECOND-QUARTER EARNINGS JUMP

          Walt Disney Co. reported yesterday "higher than
     expected" second-quarter earnings, according to Jeffrey
     Daniels of the HOLLYWOOD REPORTER.  While the positive
     results were "driven" by Disney World's record attendance
     and international film revenue, ESPN "was also a significant
     driver in the overall results."  Disney earned $333M, or
     $.49 a share, compared to a net loss of $25M, or $.4 a share
     for the second quarter of '96.  Analysts "had been looking
     for" Disney to earn about $.45 a share in the second
     quarter.  In its broadcasting segment, which includes ABC
     and ESPN, "pro-forma operating profit" rose 18% to $238M and
     revenue jumped 9% to $1.53B.  Disney said that its cable
     results "were driven by" increased ad revenue and
     subscribers at ESPN.  Analysts estimate that ESPN had a 20%
     profit gain for the quarter (HOLLYWOOD REPORTER, 4/24).