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Finance

Disney Reports Strong Quarterly Earnings; Iger Underscores Health Of ESPN

Walt Disney Co. reported “strong quarterly earnings, helped by robust television and theme park income,” according to Dawn Chmielewski of the L.A. TIMES. Disney posted quarterly net income of $1.14B, up 21%. Revenue rose 6% to $9.6B for the second quarter ended March 31 compared with the same quarter last year. Disney's Media Networks television group “remains the company's cash cow," reporting operating income of $1.7B for the quarter, up 13% from a year earlier. Results were fueled by the “continued strength of two of its cable television brands, ESPN and Disney Channel.” ESPN “continues to expand its distribution on new platforms and now reaches 40 million subscribers on mobile devices” (L.A. TIMES, 5/9). Disney Chair & CEO Bob Iger in a conference call yesterday “sought to underscore the health of ESPN, which is by far the largest contributor to Disney’s overall profitability.” In N.Y., Brooks Barnes noted some analysts “have been fretful about escalating programming costs at ESPN and its continued ability to grow by raising subscriber fees higher and higher.” Iger said ESPN was “quite well positioned to remain the pre-eminent sports brand” (NYTIMES.com, 5/8).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

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