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 .
Disney has reported a 51% fall 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 $168m to $553m. The company said those losses would rise to $900m. Disney businesses reported a good quarter but the Fox film studio performed below what the company had expected.