Disney profits up despite Miramax disaster

Notwithstanding the recent near-implosion of Miramax, the film distribution company founded by Harvey and Bob Weinstein and acquired by Walt Disney Co. in the early nineties, the company has posted an 18 percent rise in profit for the fourth fiscal quarter. The increase comes on the back of improved results at cable network ESPN and syndication sales of television series such as Grey’s Anatomy and According to Jim. Disney announced that it earned US$895-million, or 47 cents a share, in the latest quarter. Revenue at the company rose four percent to US$9.87-billion. Read more: MarketWatch