• Bloomberg, Thursday, May 11, 2006 11 AM

Improved theme-park attendance, and the recent turn-around of ratings at the ABC Television network, propelled in part by the success of "Desperate Housewives" and "Grey's Anatomy," helped the Walt Disney Company to an impressive first quarter. The Burbank, Calif.-based media conglomerate reported yesterday that profits rose 12 percent in the first quarter, slightly better than expected by several top Wall Street analysts. The investment community is closely watching ABC's multiplatform initiatives. The network is already making certain of its hit shows available, for a charge, as iPod downloads (thanks, in part, to Steven Jobs' new connection to Disney). If the model proves successful, it will roll out to more of ABC's programs, bringing with it potentially significant revenues. The network also provides some of its shows for free at ABC.com, a non-advertiser-supported site.

Read the whole story at Bloomberg »