1001039--12/2/2009--WALT_DISNEY_CO/

related topics
{cost, operation, labor}
{product, market, service}
{capital, credit, financial}
{condition, economic, financial}
{system, service, information}
{cost, contract, operation}
{acquisition, growth, future}
{provision, law, control}
{regulation, government, change}
Recent changes in U.S., global, or regional economic conditions could have a continuing adverse effect on the profitability of some or all of our businesses. Changes in public and consumer tastes and preferences for entertainment and consumer products could reduce demand for our entertainment offerings and products and adversely affect the profitability of any of our businesses. Changes in technology and in consumer consumption patterns may affect demand for our entertainment products or the cost of producing or distributing products. The success of our businesses is highly dependent on the existence and maintenance of intellectual property rights in the entertainment products and services we create. A variety of uncontrollable events may reduce demand for our products and services, impair our ability to provide our products and services or increase the cost of providing our products and services. Changes in our business strategy or restructuring of our businesses may increase our costs or otherwise affect the profitability of our businesses. Turmoil in the financial markets could increase our cost of borrowing and impede access to or increase the cost of financing our operations and investments. Increased competitive pressures may reduce our revenues or increase our costs. Sustained increases in costs of pension and postretirement medical and other employee health and welfare benefits may reduce our profitability. Our results may be adversely affected if long-term programming or carriage contracts are not renewed on sufficiently favorable terms. Changes in regulations applicable to our businesses may impair the profitability of our businesses. Labor disputes may disrupt our operations and adversely affect the profitability of any of our businesses. Provisions in our corporate documents and Delaware state law could delay or prevent a change of control, even if that change would be beneficial to shareholders. The seasonality of certain of our businesses could exacerbate negative impacts on our operations. The Company s acquisition of Marvel is expected to cause short term dilution in earnings per share and there can be no assurance that anticipated improvements in earnings per share will be realized.

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