Dec 03, 2020
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Disney E! sale results in $800M gain

LOS ANGELES (AP) _ The Walt Disney Co.’s sale of its stake in E! Entertainment Television resulted in a pretax gain of $800 million, the company (NYSE:DIS) said Wednesday in an annual report filed with the Securities and Exchange Commission.

Disney sold a 39.5 per cent stake in the cable channel to Comcast Corp. (NASDAQ:CMCSA) for US$1.23 billion as part of a long-term distribution agreement announced Tuesday.

Prior to purchasing Disney’s stake, Comcast held a 60 per cent interest in the channel.

After taxes, the Disney’s gain from the cable channel sale total US$500 million, according to the regulatory filing.

Disney plans to record the gain in the first quarter of fiscal 2007.

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Headline, Industry News

Disney E! sale results in $800M gain

LOS ANGELES (AP) _ The Walt Disney Co.’s sale of its stake in E! Entertainment Television resulted in a pretax gain of $800 million, the company (NYSE:DIS) said Wednesday in an annual report filed with the Securities and Exchange Commission.

Disney sold a 39.5 per cent stake in the cable channel to Comcast Corp. (NASDAQ:CMCSA) for US$1.23 billion as part of a long-term distribution agreement announced Tuesday.

Prior to purchasing Disney’s stake, Comcast held a 60 per cent interest in the channel.

After taxes, the Disney’s gain from the cable channel sale total US$500 million, according to the regulatory filing.

Disney plans to record the gain in the first quarter of fiscal 2007.

Leave a Reply

Your email address will not be published. Required fields are marked *

Headline, Industry News

Disney E! sale results in $800M gain

LOS ANGELES (AP) _ The Walt Disney Co.’s sale of its stake in E! Entertainment Television resulted in a pretax gain of $800 million, the company (NYSE:DIS) said Wednesday in an annual report filed with the Securities and Exchange Commission.

Disney sold a 39.5 per cent stake in the cable channel to Comcast Corp. (NASDAQ:CMCSA) for US$1.23 billion as part of a long-term distribution agreement announced Tuesday.

Prior to purchasing Disney’s stake, Comcast held a 60 per cent interest in the channel.

After taxes, the Disney’s gain from the cable channel sale total US$500 million, according to the regulatory filing.

Disney plans to record the gain in the first quarter of fiscal 2007.

Leave a Reply

Your email address will not be published. Required fields are marked *

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