Nov 10, 2017

New Star Wars trilogy raises Disney hopes

Walt Disney profits declined last year - the first annual fall since 2009 - amid stepped-up competition from online rivals. Chief Executive Bob Iger said Disney had struck a deal with Rian Johnson, director of the upcoming "Star Wars: The Last Jedi," to create a new trilogy of the science fiction blockbuster. Disney shares rose about 1% in after hours trading, following an initial drop when Disney posted results. Disney boss Robert Iger said those investments, which add to an existing Disney subscription service in Europe, are "Vital" to the firm's future. Revenue in its movie division also plunged 21%, which the firm said was due to a tough comparison to last year, when a new Star Wars movie lifted results.

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