00:00The market's not giving any sort of optimism here. Why are they beating up so hard on Disney?
00:06Yeah, I think after, you know, Caroline, you come off of fiscal 2025 delivering 19 percent E.P.S. growth.
00:14You know, you obviously have some very solid momentum in the business. Yes, granted, fiscal, you know, first quarter of 2026 looks a little light.
00:21They're dealing with a lot of different cost issues, whether it's on the studio side in terms of launch costs for, you know, cruises.
00:27So there's a little bit of all of that that they have to contend with.
00:30But I think, you know, the street was really expecting, I think, something much more specific and much more concrete,
00:35something better than just double digit E.P.S. growth for 2026, especially when they have the benefit of a lot of different catalysts that come in fiscal 2026.
00:46I mean, the stock's down 10 percent, right? That puts it on track for its biggest drop since November of 2022.
00:51You heard the final question asked and answered to Hugh of what happens next with succession.
01:00Is that an overhang on the stock here?
01:03I think a little bit, Ed. I mean, you know, we know that, you know, the Disney succession issue has really been, you know, bungled so many times right now.
01:10This has been an ongoing question for them for almost a decade, I would say.
01:15You know, it seems like things are moving in the right direction.
01:17It's kind of turning into, I think, a two-horse race between Dana Walden, who heads the creative division at Disney, as well as Josh DiMauro, who heads the parks.
01:27And this has kind of been the eternal question for Disney.
01:29Do you have somebody who is at the head of creative, who can talk to talent, who can talk to all of those Hollywood executives?
01:35Or do you need somebody who, you know, heads the parks, you know, which is basically 60 percent of the company's profit?
01:41I really don't know how it's going to shake out.
01:43Maybe they have a co-CEO structure like Netflix, like Spotify is doing.
01:47But again, we have to wait and watch till the end of March.
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