...and perhaps even more interestingly were some of the divisional splits, especially the 'Media Networks' business given the controversies noted last quarter as I wrote up here especially with regard to ESPN.
So thoughts on valuation. I noted at the link above that below US$105 (as occurred in late August and late September) equated to value (< x12 prospective EV/ebit) and the progress noted above mechanistically pushes this level to US$107. So a 'buy' below this level...and I think reasonable now to conclude a hold until at least US$120 and possibly beyond. So at US$113 currently a hold...but impressive progress from Disney. On a relatively bad day as noted above I could see myself buying this stock again given the notes and observations above. Content is still king of course.