• Bloomberg, Tuesday, November 14, 2006 12 PM

The Walt Disney Company, like other global media giants, has begun its move into the digital sphere, but shareholders shouldn't expect a payoff from the company's investment in new media for another five years, says Bob Iger, Disney's chief executive.

That's OK, especially when movies like the "Pirates of the Caribbean 2" rake in untold millions, ESPN dominates the world of sports and ABC's prime-time TV shows deliver monster ratings.

In the next year, the House of Mouse plans to revamp its Web sites for Disney.com, ABC.com and ESPN.com and shift its strategy toward online video to draw more ad revenue. Video on demand--on both the Web and via cable deals with Comcast and Time Warner Cable, and due in the next few weeks--is where the company is now focused.

Read the whole story at Bloomberg »