Disney reports its third-quarter earnings

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Mickey Mouse entertains visitors on the opening day of the Disney Resort in Shanghai, China, on June 16.
AP Photo/Ng Han Guan




Disney on Wednesday reported third-quarter revenue and profit that was better than Wall Street had expected.

It also announced
that it bought a minority stake in BAMTech, a video-streaming company previously formed by Major League Baseball, for $1 billion.

Disney CEO Bob Iger told CNBC that the acquisition will help jump-start ESPN. It would bring the sports network's content over the top on the internet.

Dipan Anak Sorong The company will fund the stake in two installments and has the option to buy majority ownership in the coming years, it said.

The company reported adjusted earnings per share of $1.62 and revenue totaling $14.3 billion.

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