walt disney co/the (DIS) Snapshot

DIRECTV (NasdaqGS:DTV) is planning a potential bid for Hulu, LLC, according to a person familiar with the matter. Hulu's owners, including The Walt Disney Company (NYSE:DIS), News Corp. (NasdaqGS:NWSA); and Comcast Corporation (NasdaqGS:CMCS.A) are considering various strategic options for the site including a sale. Other firms that have bid or expressed interest in Hulu include cable operator Guggenheim Partners, LLC; Hulu, LLC; Time Warner Cable Inc. (NYSE:TWC); Yahoo! Inc. (NasdaqGS:YHOO); and former News Corp. President Peter Chernin's investment group. People familiar with the matter say pay TV operators like DirecTV could be interested in the site in part to expand their so-called "TV Everywhere" services, which make TV shows available over the Web to pay TV customers. Share price of DirecTV is up by 0.76%, share price of Walt Disney up by 0.17%, share price of News Corp up by 1.10%., share price of Comcast Corp. decreases by 0.54%, share price of Time Warner Cable up by 0.75% and share price of Yahoo decreases by 0.23%.

At least two pay TV operators, including Time Warner Cable Inc. (NYSE:TWC) are planning to invest in Hulu, LLC as Hulu considers a range of strategic options, according to people familiar with the matter. It isn't clear how much Time Warner Cable is willing to pay and whether it is considering purchasing a minority stake in the site or an all-out acquisition. Hulu's current owners including News Corp. (NasdaqGS:NWSA); Comcast Corporation (NasdaqGS:CMCS.A) and The Walt Disney Company (NYSE:DIS) don't see the cable operator as the most likely buyer at the valuation it has signaled it would do the transaction, one of the people familiar with the matter said. The identity of the other pay TV operator isn't known. For regulatory reasons, Comcast can't vote its stake. News Corp and Disney have been at odds about the strategic direction for Hulu, and more recently the companies have been considering selling the site. Another option is for News Corp. or Disney to buy the other out. Former News Corp. President Peter Chernin's investment group has made an offer for Hulu, people familiar with the matter say. In addition, Guggenheim Partners, LLC and Yahoo! Inc. (NasdaqGS:YHOO) has shown interest in the site., people familiar with the situation said.

The Walt Disney Company reported consolidated unaudited earnings results for the second quarter and six months ended March 30, 2013. For the quarter, the company reported revenues of $10,554 million against $9,629 million a year ago. Income before income taxes was $2,275 million against $1,876 million a year ago. Higher operating income at the company's international operations reflects higher guest spending at Disneyland Paris and increased attendance at Hong Kong Disneyland Resort, partially offset by lower results from Tokyo Disney Resort, reflecting the absence of business interruption insurance proceeds that the company collected last year. Net income attributable to the company was $1,513 million or $0.83 per diluted share against $1,143 million or $0.63 per diluted share a year ago. For the six months, the company reported revenues of $21,895 million against $20,408 million a year ago. Income before income taxes was $4,303 million against $4,117 million a year ago. Net income attributable to the company was $2,895 million or $1.60 per diluted share against $2,607 million or $1.43 per diluted share a year ago. Cash provided by operations was $3,304 million against $3,546 million a year ago. Capital expenditures decreased from $2.1 billion to $1.1 billion driven by a decrease at Parks and Resorts due to the final progress payment in the prior-year period for the Disney Fantasy cruise ship. The company provided earnings guidance for the third quarter of 2013. For the quarter, the company expects an operating loss that is comparable to the loss in the second quarter due primarily to the shifting of the release date of the company’s Infinity game from third quarter to fourth quarter.