disney

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Time Warner Inc's shares fell as much as 9 percent after Walt Disney Co alarmed investors with a dour outlook for its cable business, suggesting that more people were switching to video-streaming from paid TV than previously expected. Disney's comments overshadowed Time Warner's strong quarterly results, which were boosted by a deal with video-streaming service Hulu and the release of “Batman: Arkham Knight” and “Mortal Kombat X” videogames. Today is the day after Disney spooked the sector with their comments that cord-cutting is worse than they thought.” Disney cut its profit forecast for its cable networks unit on Tuesday, citing a decline in subscribers.

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(Reuters) – Walt Disney Co CEO Bob Iger learned that Steve Jobs' cancer had returned less than an hour before Disney announced it was buying Jobs' Pixar studio in 2006, and Iger kept the Apple co-founder's condition a secret for three years, according to Bloomberg, citing a new biography of Jobs. Iger told the authors of “Becoming Steve Jobs” he thought about the implications of keeping such a secret at a time when regulators were calling for more disclosure and holding executives more accountable to their fiduciary duties, Bloomberg reported. The $7 billion deal to buy Pixar made Jobs Disney's largest shareholder and put him on the entertainment company's board.