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Disney+ subs grow 60% in six weeks

BURBANK, Calif. — With the Covid-19 pandemic adversely affecting many segments of its company (Parks are closed, cruise ships docked, no movies premiering), The Walt Disney Company still reported solid revenue growth overall and in its media networks (cable networks and broadcasting) and direct-to-consumer businesses in particular (including Disney+) for the second quarter of 2020. However, it also reported a 90% drop in net income and cancelled its dividend. Disney reported US$18 billion (all figures in USD) in overall revenues for Q2 2020, a 21% increase from the $14.9 billion in revenues it reported in the same quarter in 2019....