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  Disney Disappointed



The Walt Disney Co. reported mixed results Thursday -- big net gains at its ABC network and ESPN cable sports channel but the sharpest losses at its film division in six years. Analysts pointed out that the movie losses were mostly due to a slew of Miramax movies that were pulled off shelves and dumped unceremoniously into the market as the studio's founders, Bob and Harvey Weinstein, departed. Broadcast results were just short of spectacular, however, especially when compared with recent years'. ABC, which reported a loss of $75 million in operating income in the quarter last year, climbed into the black with $48 million this year. ESPN jumped to $584 million from $523 million. "We recognize there are aspects of the results that are disappointing," CFO Thomas Staggs told today's (Friday) Los Angeles Times. "At the same time, we think we are on the right track with where we are taking the studio and the company as a whole."

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