Disney has reported a 51 % increase in profits to $ 1.44bn for its first quarter after buying most of Fox for $ 71.3bn . Rising streaming costs were blamed and CEO Robert Iger said the period had been part of a “ strategic transformation ” at Disney as it cuts its dependence on declining cable channels . Developing new streaming platforms has been expensive , and the Disney division that includes streaming saw losses rise from $ 168 m to $ 553 m . The company said those losses would rise to $ 900 m . “We do not feel that we have a pricing issue,” Mr. Iger said. Disney businesses reported a good quarter but the Fox film studio performed below what the company had expected .
Disney has reported a 51 % increase in profits to $ 1.44bn for its first quarter after buying most of Fox for $ 71.3bn . Rising streaming costs were blamed and CEO Robert Iger said the period had been part of a “ strategic transformation ” at Disney as it cuts its dependence on declining cable channels . Developing new streaming platforms has been expensive , and the Disney division that includes streaming saw losses rise from $ 168 m to $ 553 m . The company said those losses would rise to $ 900 m . Disney businesses reported a good quarter but the Fox film studio performed below what the company had expected .