Disney Plans a 'Star Wars' TV Show for Its New Streaming Service
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Walt Disney is going to spend its way out of its problems.
The world’s largest entertainment company on Thursday warned that profit in the new fiscal year just underway will be hurt by investments in theme parks, movies and TV shows, including programs for new streaming services set to debut in 2018 and 2019. The good news: The company is already working on a new “Star Wars” film trilogy.
A wicked hurricane season, falling advertising sales and a canceled movie sapped fourth-quarter profit at Disney, the company said, leading to the first drop in annual results since the financial crisis almost a decade ago. The downdraft from bad weather, lower ad sales and a tough year for movies was too powerful even for Disney, which counts on TV, theme parks, consumer products and its famous studio to fuel growth.
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