This morning’s third quarter earnings report revealed that Disney’s combined streaming services are finally turning a profit but the Mouse House’s legal costs are still pretty pricey too.
Specifically, $65 million pricey. “In the current quarter, the Company recorded a charge of $65 million related to a legal ruling,” Disney said in its just released Q3 earnings summary. “In the prior-year quarter, the Company recorded a charge of $101 million related to a legal ruling, largely offset by a $90 million gain on its investment in DraftKings, Inc. (DraftKings Gain), which was sold in the prior-year quarter,” Disney went on to state.
Disney did not respond to request for comment and clarification on what the Q3 2024 “legal ruling” was related to or who the $65 million was paid out to.
If the company does provide information, this post will be updated. Among the many legal actions Disney has recently been involved in, one clue may lie in the settlement deal the Mouse House struck with TSG Entertainment Finance in late January.
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