Closing Bell: Disney Slides on ESPN Subscriber Losses; Oil Falls - Video - TheStreet

Closing Bell: Disney Slides on ESPN Subscriber Losses; Oil Falls

It was a shortened trading session on Wall Street after the Thanksgiving holiday on Thursday.
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It was a shortened trading session on Wall Street after the Thanksgiving holiday on Thursday. Lower volume made for choppier trading, though moves were kept in a narrow range. Disney (DIS) weighed on the Dow after the world's largest entertainment company disclosed that sports channel ESPN had lost SEVEN million subscribers over the past two years. ESPN has historically been one of Disney's biggest profit generators. Crude oil was sharply lower as commodity traders looked toward next week's OPEC meeting. The group's members have held production near record highs, a strategic move to hold onto market share as prices decline. OPEC is not expected to announce production cuts next week.