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Disney Reports Cable Network Unit, Led By ESPN, Will Continue Growth For Three Years

04 / 18 / 14

Disney on Thursday indicated that profits at its "ESPN-dominated cable networks unit would grow in the 'high single digits' on a compounded annual basis for the next three years," according to Brooks Barnes of the N.Y. TIMES. It is "rare for Disney to provide public insight into its future earnings,...

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Tags: Finance, ESPN, Walt Disney

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Revenue Up For Disney In Q3

Revenue for Disney’s Q3 was up 4% to $11.09B, "held down because of a timing shift in the recognition of ESPN-related affiliate fees,” according to Brooks Barnes of the N.Y. TIMES. At Media Networks, the Disney unit that includes ESPN, ABC and cable channels such as ABC Family, “op ...

Tags: ESPN, Finance

Churchill Downs Inc. Q2 Profits Set New High

Churchill Downs Inc. yesterday said that Kentucky Derby week helped push the company “to record revenues and profits in its second-quarter,” according to Gregory Hall of the Louisville COURIER-JOURNAL. Net earnings for the April-to-June period “reached a record $48.6 million, or $2 ...

Tags: Finance, Churchill Downs Inc.

Callaway Expecting Weaker Sales Rest Of Year

Callaway Golf posted Q2 sales and earnings "generally in line with Wall Street’s estimates on Thursday but expects weaker results for the rest of the year as it takes steps to turn around its ailing business,” according to Mike Freeman of the SAN DIEGO UNION-TRIBUNE. Callaway “repo ...

Tags: Golf, Callaway Golf, Finance

Chartwell Investments Divesting RCR Stake

Richard Childress Racing yesterday announced that minority owner Chartwell Investments plans to sell its stake in the NASCAR team. Chartwell, a private equity firm that invested in RCR in '03, has hired Joe Ravitch's Raine Group to assist in finding a buyer for its stake in the team. RCR Owner Richa ...

Tags: Finance, NASCAR

Callaway Golf Cuts 250 Employees

California-based Callaway Golf yesterday "cut 250 employees from its worldwide workforce of 2,100," according to James Achenbach of GOLFWEEK. The company said that the 12% reduction of staff and "other initiatives are expected to generate $52 million in gross annualized savings and will cost an esti ...

Tags: Finance, Callaway Golf

Li Ning Sees Surge In Stock Amid CEO's Departure

Chinese apparel brand Li Ning “surged in Hong Kong trading after its chief executive officer stepped down and private-equity firm TPG Capital said it could boost investment in the sportswear retailer if needed,” according to Chan & Lee of BLOOMBERG NEWS. The company in a statement sa ...

Tags: Li Ning, Finance

ISC Sees Upped Revenue For First Half Of '12

ISC today reported a modest increase in revenues for the first half of the year but said admissions revenue continues to be challenged by the economy. Total revenues for the first six months of the year increased to $307M from $287.4M over the same period last year. Net income was relatively flat at ...

Tags: Finance

Nike Reports A 7.6% Drop In Profit For Q4

Nike reported a 7.6% "drop in profit for its fiscal fourth quarter despite solidly higher sales as higher marketing costs pressured margins," according to John Kell of the WALL STREET JOURNAL. The company's "gross margin narrowed for a sixth-straight quarter on a year-over-year basis." The latest de ...

Tags: Finance, Nike

Web Retailer Fanatics Valued At $1.5B

In a week when online licensed sports product retailer Fanatics Inc. completed its acquisition of fellow online sports retailer Dreams, it also received an indication of its worth. A 10% equity stake from Insight Venture Partners, was purchased for $150M, meaning the biggest online licensed sports r ...

Tags: Finance

Callaway President Seeks To Improve Market Appeal

Callaway President & CEO Chip Brewer is focused on “cutting costs, selling assets and trying to put Callaway’s playing equipment back at the forefront of consumer’s minds,” according to Sam Mamudi of MARKETWATCH. Brewer has a goal “to reverse the long slide of the c ...

Tags: Finance, Callaway Golf

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