Walt Disney CEO Bob Iger told investors the company will"quiet the noise" in a culture war that has pitted social conservatives against the global media and entertainment conglomerate, according to an analyst note on Wednesday .
Disney is struggling to make its streaming business profitable, improve the quality of its films, position its flagship sports brand, ESPN, to stream directly to consumers, and potentially shed its television networks. In its most recent quarter, the company beat Wall Street's profit expectations but fell short on revenue.
It is unclear how much of the US$60 billion in new investment in parks will be spent in Florida, where Disney faces increased competition from rivals such as Universal Orlando Resort. Iger previously said the company planned to spend US$17 billion in investment at Walt Disney World over the next 10 years.
Iger’s remarks about its content appear to mirror those he made at the company’s annual shareholder meeting in April.
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