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Disney plans to nearly double spending on parks to $60 billion over 10 years
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investing.com(Reuters) — Walt Disney (NYSE:DIS) said on Tuesday it would nearly double its capital expenditure for the parks business to about $60 billion over the next ten years.
The company's shares were down nearly 1% in premarket trading.
The parks business has become a reliable profit engine for the company and has helped cushion losses in the Disney+ streaming business, which is expected to become profitable only next year.
The parks, experiences and products unit generated $2.4 billion in operating income in the most recent quarter.
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