$61.80 level breaks. $58.09 is the 200 dma = next target.
The $200 million hit from Lone Ranger, while not uncommon in the movie business, shows that it is risky and should not be entitled to a premium P/E ratio.
The cracks in ESPN’s “perfect story” are starting to show: Competition from Fox Sports1 is legitimate. Not to mention the NBC Sports and the NFL, NHL, MLB, NBA, Golf and Tennis channels.
ESPN = 43% of DIS' operating income and is losing its economic moat on sports broadcasting.
Also, this is the initial gap in cable fees between ESPN and FS1…that gap HAS to narrow…economics 101: