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Disney shares pulled back 2% in early trading after the media giant unveiled a comprehensive plan to double its investment in theme parks to $60 billion over the next 10 years.
In an SEC filing, slide presentation and blog post, the company said its theme parks were humming along, but could evolve into an even more potent engine of profitability. The strategic focus in recent weeks has been on legacy media assets like linear TV networks and ESPN and how Disney plans to address the financial vulnerabilities they bring.
MORE to come …
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