Second-quarter revenue for The Walt Disney Co.'s media-networks segment --
which includes ABC and ESPN -- dropped 9 percent to $2.2 billion, largely due to
a drop in revenue at ABC.
Income from the company's investments in Euro Disney, A&E Television
Networks, Lifetime Television and E! Entertainment Television fell 27 percent to
$49 million for the quarter. The company blamed increased costs at Disneyland
Paris, along with declines at the cable networks due to the soft ad market.
Overall, Disney's revenue dipped 2 percent to $5.9 billion, and the company
reported $259 million in net income (13 cents per share), beating analysts'
estimates by 3 cents.