Profitable Disney eyeing cuts

Investor's Business Daily

Executives at the "happiest place on earth" started an internal cost-cutting review recently with an eye to cuts at its studio and other units, Reuters said, citing sources close to the company. A Walt Disney (DIS) spokeswoman said the company is constantly looking at eliminating redundancies but didn't elaborate. Disney warned in Nov. that expenses were rising due to sports rights costs and weak home video sales. Disney reported record earnings last quarter, but its studio was its least profitable unit. Shares fell 2.3% to 50.97.

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