Jon Favreau's Star Wars Series Won't Be Cheap

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Chief Executive Bob Iger touted the benefits of Disney's $71.3 billion acquisition of Fox's assets, emphasizing the importance of the Star Wars and Sky pay-TV assets.

The majority of the 30-minute Q&A session was about Disney's new streaming service which is set to compete with Netflix.

In the works for the Disney service are a live-action "Star Wars" series, new episodes of the animated "Star Wars" series "Clone Wars", a live-action version of "Lady and the Tramp", and new series related to the "High School Musical" and "Monsters Inc." movies.

Expect more details about the lifespan of Marvel movies on Netflix as Disney gets closer to launching the service, and also keep an eye on if Doctor Strange and Guardians of the Galaxy Vol. 2 get their full 18-month tenure on the service...

Disney said the loss at BAMTech, which was consolidated by Disney previous year and which provides the technology for the ESPN+ streaming service launched in April, reflected higher content and marketing costs and ongoing investment in technology. The service will not, however, carry the volume of content found on Netflix, Iger added. This won't affect the budget, as a recent report from the New York Times said the episodes will cost "one hundred million for ten episodes".

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In the Mouse House's media networks division, which includes ESPN and ABC, operations eked out a 3 percent gain in total revenue but higher programming fees, including for the National Basketball Association, resulted in a 6 percent decline in operating profit.

Revenue from the movie and TV production business jumped 20 percent to $2.88 billion (about Rs. 19,800 crores), boosted by a strong box office for "Avengers: Infinity War" and "Incredibles 2".

On an adjusted basis, Disney earned $1.87 per share, below estimates of $1.95 per share.

Revenue rose 7 percent to $15.23 billion (approximately Rs. 1.04 lakh crores) in the period, short of the $15.49 billion (roughly Rs. 1.06 lakh crores) expected by four analysts surveyed by Zacks.

Disney, which has been pushing up prices at its theme parks in recent years, saw the latest price hike lead to a slim 1 percent gain in USA theme park attendance in the period - down from an 8 percent increase last year - while hotel occupancy rates dropped to 86 percent from 88 percent. In the final minutes of trading on Tuesday, shares hit $116.56 (roughly Rs. 8,000), an increase of nearly 10 percent from a year ago.

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