Disney Repurchasing $8 Billion of Stock as Spending Slows
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Walt Disney Co., saying it expects to increase cash flow after years of spending to upgrade its resorts, announced plans to buy back $6 billion to $8 billion of stock starting in 2014.
Disney, based in Burbank, California, will borrow to finance some of the repurchases, Chief Financial Officer Jay Rasulo said yesterday at an investor conference in Beverly Hills, California, sponsored by Bank of America Corp. The company intends to maintain its debt ratings, he said.