Disney said it will nearly double its planned investment in the parks and cruises business.
The company said in a securities filing on Tuesday it will nearly double its planned investment to $60 billion over the course of 10 years.
While the company is grappling with the changing media and entertainment landscape – and trying to make its streaming business profitable while considering sales of its traditional TV networks – the theme parks, experiences and products division has been a bright spot.
Still the domestic parks, particularly Walt Disney World in Florida, has seen a slowdown in attendance and hotel room purchases. Instead, the segment’s strength has come from its international parks. During the third quarter the division saw a 13% increase in revenue to $8.3 billion.
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