Disney started its latest earnings call with an uncharacteristically terse Bob Iger avoiding a trio of unpleasant topics: linear TV, declining Disney+ subscriber totals and Donald Trump. What wasn’t said spoke volumes, but a few messages rang clear: film keeps churning out hits, ESPN has good/less good news, and the streaming division is firmly in the black. Meanwhile, SEC filings paint a bleak start to the future SpinCo, and a look inside the do-or-die #StayinLA movement. Sean McNulty, Elaine Low and Richard Rushfield break it all down.

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