Sept. 23 (Bloomberg) — Walt Disney Co., whose film unit said it will lose money in the fourth quarter, raised $505 million from investors to reduce the risk of financing movies, the first time it has done so in almost a decade.
The venture will provide 40 percent of production and distribution costs for about 32 films over the next four years, said Natacha Rafalski, vice president of corporate finance at Burbank, California-based Disney. The partnership will share 40 percent of the profits, including box office and video sales.
