: Work in progress. Disney CEO Bob Iger continues to remake the company, first with the agreement to acquire Pixar and now with a proposal to merge ABC Radio with Citadel Broadcasting rather than an outright sale. Should the $2.7 billion radio merger be completed, Disney will hold 52 percent of the new Citadel Communications, which would be the third-largest U.S. radio group; Disney also keeps $1.4-$1.65 billion in cash.

The earnings picture is far less dramatic. Earnings per share were up 12 percent year over year on revenues that increased a slight 2 percent. media networks revenue of $3.6 billion was up 6 percent from 1Q05; income of $606 million increased 7 percent over the same quarter last year. Consumer products income was up 17 percent to $270 million driven by Buena Vista Games and licensing but studio entertainment took a big hit, down 60 percent to $128 million.
Earnings release | Webcast