THE FINANCE GHOST: Disney’s streaming gamble

This hasn’t been a magical year for Disney shareholders. The House of Mouse is down more than 22% in 2022, though it is up a spectacular 30% in the past month. The joy of buying shares with a long-term mindset is that you can ride the volatility, provided you still believe in the story.

Disney has an exceptionally strong core business that incubates the streaming business by absorbing significant losses — more than $1bn in the past quarter alone. The linear networks division made a profit of $2.5bn, driven by businesses such as National Geographic, ESPN and ABC...

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