Will Disney's Big Bet Pay Off?

Walt Disney & Co. (DIS) - Get Report  shares are expected to open sharply lower Wednesday after the media group reported slower-than-expected second quarter revenue growth at its cable division last night and said it would invest in online streaming streaming services to offset falling ad sales.

CEO Bob Iger said Disney would stop providing new films to Netflix Inc.s streaming platform in 2019 as the group rolls out its own service following the launch of an ESPN-branded sports offering sometime next year. While no costs were revealed by Iger as he spoke to investors following the group's second-quarter earnings release, the move, as well as a newly-announced $1.6 billion deal to up its stake in BamTech, will likely impact earnings growth in the near-term.

Watch More with TheStreet:

• $5 Will Get you Into An NFL Preseason Game
• Should You Be Worried About People Buying Your Street To Charge For Parking?
• 60 Second Tips: Back to School Tax Holidays
• 5 Times You Were Glad That You Don't Work in P.R.