Film doubts may cloud earnings; digital gains expected

July 31, 2007 Wall Street expects few major upside or downside surprises when most of the big U.S. media and entertainment conglomerates report their latest quarterly earnings during the next couple weeks, but somewhat weak film results are likely to be one key trend across the board. In the run-up to earnings season, Jacoby made the biggest changes to his financial models at News Corp. and the Walt Disney Co. For News Corp., he slightly lowered his estimates because of "lower than projected film results," while he boosted his Disney projections "due to a stronger broadcast environment, but also due to better trends at the parks and consumer products segments."

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