Earnings

Walt Disney’s cable nets saw 4Q operating income grow 22% Y-over-Y to $854mln, primarily due to higher affiliate and ad revenues at ESPN. Revenue for the nets climbed 16% to $2.2bln. Operating income for the broadcasting biz decreased $19mln to $29mln thanks to increased costs associated with the rollout of Disney-branded mobile phone services and an FCC licenses impairment charge. Overall, Disney’s 4Q net income doubled to $782mln, while revenue climbed 14% to $8.8bln. — Although Crown Media’s overall 3Q net rev decreased 7% to $47.3mln, its sub fee rev jumped 32% to $6.02mln. Hallmark Channel achieved an 8% increase in subs to 74.7mln, and the net also saw its highest Q ever in terms of ratings for both total day (.8) and prime (1.3). During the Q, the company sold to RHI for $160mln the domestic rights to its film library, an important contribution to CM’s current debt reduction goal, said new pres/CEO Henry Schleiff during a Thurs conference call. Crown shares closed Thurs at $3.79 (+6%). — Outdoor Channel Holdings saw 3Q rev rise 16% to $13.2mln, and sub fees grow 13% to $4.3mln. Powered primarily by ad sales at The Outdoor Channel, ad rev jumped 21% to $6.8mln. OCH’s issued a truncated earnings release due to an announced need to re-evaluate certain intangible assets.