Treasure Planet's Flop Cuts Disney Earnings

Walt Disney Co.(DIS Quote) has lowered its latest fiscal fourth-quarter earnings after ticket sales for the film Treasure Planet were lower than expected, Bloomberg.com reported.

Disney also said federal regulators are investigating its disclosures about outside directors whose relatives had ties to the company.

The company said that former U.S. Senator George Mitchell was named presiding director and that the board would meet twice annually without management present, Bloomberg reported. Some investors have raised questions about the board's independence. ...