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  "documentTitle": "The Walt Disney Company (DIS)",
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      "text": "Ignoring Warning Signs (2015-2018): Netflix growth, cord cutting impacts, ESPN subscriber decline.",
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      "text": "Strategic & Operating Failures (2019-Today): Fox acquisition, Disney+ launch, CEO turnover, streaming losses, re-hiring Iger.",
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      "text": "Reinvigorating the Flywheel (2005-2015): Mr. Iger becomes CEO, focuses on IP, acquires Pixar/Marvel/Lucasfilm, accelerates earnings.",
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      "text": "Source: SEC filings, Company transcripts, press releases. (1) Difference between fiscal year end 2018 and 2019 total debt balances. (2) Disney issued 307 million shares to Fox shareholders as part of the transaction. Disney had 1.49 billion common shares outstanding as of 01/30/19.",
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      "text": "Context for Performance: Disney’s Strategic Rollercoaster",
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