Earnings Outlook: Disney earnings: Is Disney positioning itself for the future, or clinging to the past?

For the first quarter in a while, the crucial issue surrounding Walt Disney Co. won’t be: What’s happening with ESPN?

During its fiscal first quarter, Disney DIS, -0.78% announced plans to acquire key TV and entertainment assets from 21st Century Fox Inc. FOXA, -0.64% in a $52.4 billion deal. The proposed acquisition includes Fox’s 20th Century Fox film division and TV studio, as well as its international and cable TV businesses.

The deal would give Disney even more material to mine for its forthcoming streaming service, making it that much more of a competitor in the increasingly crowded space.

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