Adidas Aims To Grow Profits By 15% Annually Norman's Company Opens Investment Arm Radio Show Delayed Due To Skipper Impersonator Wilson Purchases Louisville Slugger FIFA Makes Record Revenue Of $2B TLA Worldwide Acquires Elite Sports Properties Webber, Hill Ready To Make Tourney Debuts ESPN, ABC Add "PBC" Franchise Mobile Fantasy Company Closes VC Funding Simmons: Grantland At "Crucial Point"
Upcoming Conferences and Events
DISNEY EARNINGS UP; COMPANY ANNOUNCES 3-FOR-1 STOCK SPLIT
Published April 23, 1998
The Walt Disney Co. reported Wednesday that earnings rose 22% in its fiscal 2Q ended March 31 "as theme-park and ESPN operations more than offset lower creative content segment results and film write-downs," according to Jeffrey Daniels of the HOLLYWOOD REPORTER. For the quarter, Disney earned $384M, or $0.55 a diluted share, up 22% from pro- forma net of $316M, or $0.46 a share, in the year-earlier period. The latest quarter included a gain of $24M from the sale of its interest in Scandanavian Broadcasting System SA. (HOLLYWOOD REPORTER, 4/23). In N.Y., Bruce Orwall reports that Disney also announced a 3-for-1 stock split for shareholders of record May 1. The split, to be effected by means of a special dividend, will "probably be completed in July" (Bruce Orwall, WALL STREET JOURNAL, 4/23).