Cable and broadcasting networks were the only business segment of The Walt Disney Co. to show an improvement in revenues for the first quarter when compared to a year ago. The Burbank-based entertainment and media conglomerate had flat growth in parks and resorts and filmed entertainment and a drop in revenues for consumer products and interactive media. Overall, Disney reported a net income of $844 million, or $0.44 per diluted share, on revenues of $9.7 billion for the quarter ending Jan. 2. For the same period in 2008, the company had a net income of $851 million, or $0.45 per diluted share, on revenues of $9.6 billion. Media networks revenues increased by 7 percent to $4.2 billion for the quarter on higher subscription rates and licensing fees. Consumer product revenues dropped by 3 percent to $746 million, while Interactive Media, which includes video games and online sites, fell by 29 percent to $221 million. During the quarter the company incurred $66 million in restructuring charges related to severance and other costs; and $39 million in write-offs for abandoned film projects. Mark R. Madler
