Walt Disney Co. on Wednesday said its movie studio division would post a loss of up to $300 million in the current quarter, hurt by weak box office ticket sales and higher marketing expenses from a larger slate of Miramax releases.
Disney Chief Financial Officer Tom Staggs also told investors at a Merrill Lynch conference in Pasadena that the company could have to write off $100 million in Delta Airlines aircraft leases as the carrier filed for bankruptcy.
