Walt Disney - DIS STOCK NEWS

Frost & Sullivan has released the 2024 Global Blockchain Hardware Industry White Paper, providing comprehensive insights into market trends and opportunities in the blockchain hardware sector. The report highlights key developments including the improvement in Bitcoin mining hardware efficiency from 516.6 J/TH in 2016 to 29.6 J/TH in 2024, and notes that Canaan (NASDAQ: CAN) ranked second in computing power sold among Bitcoin hardware providers in 2023. The white paper analyzes various aspects including DeFi growth, cryptocurrency adoption, NFT market expansion (reaching $48.74 billion in 2023), and the industry's shift towards green technologies, with renewable energy now accounting for up to 78% of mining energy sources.

The Walt Disney Company (NYSE: DIS) Board of Directors has named James P. Gorman as Chairman of the Board, effective January 2, 2025. He will succeed Mark G. Parker, who is departing after nine years of service. Gorman, currently Executive Chairman of Morgan Stanley, will step down from that role on December 31, 2024. As Chair of Disney's Succession Planning Committee, Gorman is leading the search for the company's next CEO, expected to be announced in early 2026.

Parker, who is also Executive Chairman of NIKE, Inc., expressed confidence in Gorman's leadership and the company's future. Disney CEO Bob Iger praised Gorman's expertise and thanked Parker for his valuable service. Gorman stated that appointing a new CEO is a critical priority, with the timing allowing for a smooth transition before Iger's contract concludes in December 2026.

The Walt Disney Company (NYSE: DIS) has announced it will host a live audio Q&A webcast to discuss its fiscal full year and fourth quarter 2024 financial results. The webcast is scheduled for Thursday, November 14, 2024, at 8:30 a.m. ET / 5:30 a.m. PT. Prior to the webcast, Disney will release its results and post prepared written management remarks on their investor website before the opening of regular trading on the same day.

Interested parties can access the Q&A webcast at www.disney.com/investors. The company will archive the webcast for future reference. It's important to note that the materials and webcast may include forward-looking statements.

DIRECTV customers have lost access to Walt Disney Co. (NYSE: DIS) programming, including ABC stations, Hulu, and ESPN, due to a dispute over licensing agreements. Disney demands DIRECTV customers pay for unwatched channels and streaming services, while also requiring DIRECTV to waive antitrust claims and limit legal venues.

Key issues include:

• Disney's demand for customers to pay for unused channels
• Forced bundling of streaming services
• Shifting of quality content to streaming platforms
• Potential double-charging for the same content
• Restrictions on legal accountability

DIRECTV seeks more flexible, consumer-friendly packages and pricing options. The dispute affects millions of customers and coincides with college football's opening weekend.

The Walt Disney Company's Board of Directors has appointed James P. Gorman as the new Chair of its Succession Planning Committee. Gorman, who joined Disney's Board earlier this year, brings valuable experience from overseeing the recent succession process at Morgan Stanley. The Committee, which includes directors Mark G. Parker, Mary T. Barra, and Calvin R. McDonald, is tasked with identifying and preparing the next CEO of Disney.

The Board has intensified its succession planning efforts since January 2023, with the Committee meeting six times in fiscal 2024. The process involves evaluating both internal and external candidates, with internal candidates undergoing preparation that includes mentorship from current CEO Robert A. Iger. The Board is committed to a deliberate and expeditious succession planning process to ensure a smooth transition of leadership aligned with Disney's long-term strategic goals.

Disney (NYSE: DIS) has appointed Adam Smith as the new Chief Product & Technology Officer for Disney Entertainment and ESPN. Smith, who joins from YouTube, will oversee a global Product and Technology group spanning Disney's entertainment and sports media businesses. His responsibilities include driving technology strategy, development, and innovation across the company's streaming platforms, networks, consumer digital touchpoints, and advertising technology.

Smith brings over 20 years of experience from Google and YouTube, where he most recently served as Vice President of Product Management. He played a key role in building YouTube's consumer-facing products and driving its Music and Premium offering to over 100 million subscribers. Smith will report jointly to Disney Entertainment Co-Chairmen Alan Bergman and Dana Walden, and ESPN Chairman Jimmy Pitaro, starting September 3.

The Walt Disney Company (NYSE: DIS) has released its fiscal third quarter 2024 financial results, along with prepared commentary from CEO Robert A. Iger and CFO Hugh F. Johnston. The company will host a live audio Q&A webcast to discuss the results at 8:30 a.m. ET / 5:30 a.m. PT. Investors can access the earnings release, Form 10-Q, and executive commentary at www.disney.com/investors. The webcast will also be available at the same website and will be archived for future reference.

The Walt Disney Company (NYSE: DIS) reported strong Q3 2024 financial results, with revenues increasing to $23.2 billion from $22.3 billion year-over-year. Diluted EPS rose to $1.43 from a loss of $0.25 in the prior-year quarter. Adjusted EPS grew 35% to $1.39. Key highlights include:

1. 19% growth in total segment operating income
2. Entertainment segment operating income nearly tripled
3. Streaming businesses achieved profitability one quarter ahead of guidance
4. Inside Out 2 became the highest-grossing animated film of all time
5. ESPN operating income grew by 4%
6. Experiences revenue increased by 2%, but operating income decreased by 3%

Disney raised its full-year adjusted EPS growth target to 30%. The company expects modest Disney+ Core subscriber growth in Q4 and anticipates a mid-single-digit decline in Q4 Experiences segment operating income.

The Walt Disney Company (NYSE: DIS) has announced the departure of Safra A. Catz, CEO of Oracle Corp., from its Board of Directors after six years of service. Robert A. Iger, Disney's CEO, praised Catz's contributions, particularly her insights on strategic planning amid technological changes affecting the company's businesses. Catz expressed gratitude for her time on the Board and confidence in Disney's future. With her departure, Disney's Board has been reduced from 12 to 11 directors.