What Does the Market Like About Loeb’s Disney Buy?

 by Ray Keating

Analysis/Commentary

DisneyBizJournal.com

August 15, 2022

 

Disney’s stock price jumped this morning – up by $2.98 per share, or 2.5 percent at the time of this writing – on the news that activist Dan Loeb’s Third Point hedge fund jumped back into the stock.

 

It’s always interesting to see what makes a stock price jump around from day to day. Loeb is known for being an activist whose investments in companies often come with an accompanying letter spelling out what he thinks the company should do.

According to reports, Loeb’s letter to Disney serves up two basic ideas. First, that Disney should work to accelerate its streaming integration of Hulu with an early purchase of Comcast’s minority stake in Hulu before the contractual deadline in 2024, that is, if the price premium is reasonable. Well, okay, thanks. I’m sure Disney sees that as well, again, if the price is right.

 

And then Loeb calls for spinning off ESPN. Given the unrelenting focus of Disney CEO Bob Chapek on live sports, including sports betting, and that the company already has looked into and rejected the idea of an ESPN spinoff, do what you will with this suggestion by Loeb. It’s hard to see that ESPN, including ESPN+, is going anywhere.

 

When Loeb previously held a stake in Disney, he urged the company to invest heavily in streaming. This firm-grasp-of-the-obvious recommendation somehow earned Loeb kudos from various corners.

 

It also is worth noting the following from The Wall Street Journal: “But by the first quarter of this year, the hedge fund had completely exited its position. Mr. Loeb had become worried that it would take years for Disney’s streaming business to reap the profits needed to boost the company’s share price, a person familiar with his thinking told The Wall Street Journal in May.” It would seem then that the streaming and profits news served up last week by Disney took Loeb by surprise. But now he’s back in Disney.

 

What’s the market so excited about today regarding Loeb’s moving back into Disney? It’s unlikely that it has to do with the activist investor’s actual suggestions, and more to do with the fact that Loeb sees value in the stock as matters are being run right now.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, and the Alliance of Saint Michael novels; and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right? (Also, full disclosure: Keating owns Disney stock.)

 

Two great ways to order Cathedral: An Alliance of Saint Michael Novel, which is Ray’s sixteenth work of fiction, and the first in the Alliance of Saint Michael series. Signed paperbacks here and the Kindle edition here. 

 

Two great ways to order Ray Keating’s new nonfiction book – The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Signed paperbacks here, and paperbacks, hardcovers and Kindle editions here.  

 

Get all of Ray Keating Pastor Stephen Grant thrillers and mysteries in paperback and for the Kindle at Amazon.com and signed books at www.RayKeatingOnline.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

Different Takes on Disney’s Hulu

 by Ray Keating

News/Analysis

DisneyBizJournal.com

July 19, 2022

 

Depending on who one turns to for an assessment, Hulu is either a leader and an opportunity for Disney, or a potential financial burden.

Comcast still owns 33 percent of Hulu, with Disney controlling the rest, gaining Fox’s 33 percent Hulu stake in the 2019 acquisition of Fox. As it stands now, Comcast has a passive role in Hulu and has agreed to hold that position until 2024. After that, Comcast can force a buyout by Disney based on a total valuation of $27.5 billion – with Comcast then getting more than $9 billion from Disney – or Disney could choose to execute the buyout. That price tag, however, could go higher if an independent party determines that the fair market value is, in fact, higher. This is one of the big-dollar unknowns left behind by Bob Iger.

 

If you read a recent take at CNBC, Hulu is a problem child for Disney, not really fitting in and Disney not offering a clear vision for the service. Indeed, it was emphasized that perhaps Hulu could be sold to Comcast, as opposed to Disney completing its purchase of Hulu from Comcast. However, it’s hard to see how the possible challenges laid out for Hulu with Disney, if accurate, of course, wouldn’t turn out to be much the same for Comcast, which already has the Peacock streaming service.

 

Meanwhile, a recent Hollywood Reporter story offered the following: “At the very least, Disney will be forced to strike a deal with Comcast over the future of Hulu, with the cable giant able to force Disney to buy out its 33 percent stake in 2024 for market value. Given Chapek’s ambitions in streaming, an early buyout could give Disney more optionality in its plans.” An early buyout? Wow. That’s quite a different take.

 

And then there’s a Wall Street Journal article published on July 18 that, based on an analysis done by Antenna, reported Hulu subscriptions growing faster than Disney+ subs. It was noted: “New subscriptions to Hulu have outpaced those of Disney’s flagship streaming platform, Disney+, in 18 of the past 24 months, and total new subscriptions to Hulu have exceeded those to Disney+ in each of the last six quarters…”

 

Indeed, it also was noted in the CNBC story: “Hulu has doubled its total subscribers since 2018. The streaming service continues to churn out critically acclaimed series, including ‘Pen15,’ ‘Dopesick’ and ‘The Dropout.’” 

 

According to the reporting, Disney basically confirmed the data presented in the Journal analysis. So, the assertions that Disney might sell Hulu to Comcast appear pretty absurd.

 

Analysts do seem to be unified in looking for greater convergence between Disney+ and Hulu. Maybe, and it’s unclear as to what that would mean exactly. That question also goes to how distinct Chapek views the Disney brand. He has indicated a willingness to be more expansive, beyond the strictest family-friendly-fare criteria. Yet, there remains plenty of material that is hard to imagine fitting on Disney+, and those also are opportunity-rich areas, which further strengthens Hulu as part of the Disney portfolio.

 

Looking ahead for the near term at least, it’s hard to deny that the Disney bundle – Disney+, ESPN+ and Hulu at one price – will help the company gain or keep subscribers across all three streaming services in a tougher economy.

 

Is Hulu a problem child or a valuable asset that’s aiding Disney’s streaming dreams? I strongly lean toward the latter, but the company would benefit from more explicitly showing where it plans to take Hulu, and how it fits in with or alongside Disney+.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, and the Alliance of Saint Michael novels; and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

Two great ways to order Cathedral: An Alliance of Saint Michael Novel, which is Ray’s sixteenth work of fiction, and the first in the Alliance of Saint Michael series. Signed paperbacks here and the Kindle edition here. 

 

Two great ways to order Ray Keating’s new nonfiction book – The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Signed paperbacks here, and paperbacks, hardcovers and Kindle editions here.  

 

Get all of Ray Keating Pastor Stephen Grant thrillers and mysteries in paperback and for the Kindle at Amazon.com and signed books at www.RayKeatingOnline.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

ESPN+ Price Hike Coming and What About NFL Sunday Ticket?

 by Ray Keating

News/Analysis

DisneyBizJournal.com

July 17, 2022

 

A price hike is coming for ESPN+ subscribers, according to a CNBC report, but not for those who subscribe via the Disney bundle, that is, Disney+, ESPN+ and Hulu packaged together.

CNBC noted that the monthly subscription price for ESPN+ will be going from $6.99 per month to $9.99 as of August 23. The annual cost for ESPN+ would go from $69.99 to $99.99. The monthly bundle price will remain at $13.99.

 

ESPN+ has an impressive line-up for sports fans, including NHL hockey games and and PGA Tour Live. 

 

For good measure, Disney remains in the running for NFL Sunday Ticket, which allows viewers to have access to all out-of-market Sunday afternoon games. Sunday Ticket always has been on DirecTV, but that deal is due to expire at the end of the 2022 NFL season. The NFL has made clear that it wants a streaming partner, and Disney/ESPN, Apple and Amazon reportedly are in the mix. Also, NFL Commissioner Roger Goodell has said that a decision on NFL Ticket will come before the fall. Rumors swirl that Apple is in front to win, at least for now, as speculation has been quite fluid around this topic for some time now.

 

In addition, the NFL will soon be launching its own NFL+ streaming service.

 

The latest numbers show that ESPN+ has 22.3 million subscribers.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, and the Alliance of Saint Michael novels; and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

Two great ways to order Cathedral: An Alliance of Saint Michael Novel, which is Ray’s sixteenth work of fiction, and the first in the Alliance of Saint Michael series. Signed paperbacks here and the Kindle edition here. 

 

Two great ways to order Ray Keating’s new nonfiction book – The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Signed paperbacks here, and paperbacks, hardcovers and Kindle editions here.  

 

Get all of Ray Keating Pastor Stephen Grant thrillers and mysteries in paperback and for the Kindle at Amazon.com and signed books at www.RayKeatingOnline.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

Disney Earnings and Disney+ Subscribers Up

 by Ray Keating

News/Analysis

DisneyBizJournal.com

May 11, 2022

 

The Walt Disney Company reported earnings and Disney+ subscriptions for the second quarter after the market closed on May 11, 2022. The news was positive on both streaming and domestic parks.

On the streaming front, net subscriber additions on Disney+ beat market expectations. While the market generally expected five million new net subscribers, the company added 7.9 million Disney+ subscribers. That brought the total to 137.7 million. Disney’s goal is to hit 230 million to 260 million subscribers in 2024.

 

ESPN+ subscribers came in at 22.3 million, which was up by 1 million compared to last year, and Hulu added 300,000 to come in at 45.6 million subscribers. 

 

That put total streaming subscribers for the company at 205.6 million.

 

Meanwhile, revenue came in at $19.2 billion in the second quarter, which was up by 23 percent over the previous year. Income registered $3.7 billion, up by 50 percent versus last year. And earnings per share (EPS) at $1.08 rose by 37 percent. EPS did come in below what the market expected, but that was due, at least in part, to changes in tax regulations.

 

On the call, the company noted that it was dealing with ongoing supply chain issues and labor market tightness, as is the case across other industries.

 

As for theme parks, the Disney Parks, Experiences and Products segment saw revenue growth of 110 percent, and operating income coming at $1.76 billion versus a loss of $406 million last year.

 

Disney explained: “Operating income growth at our domestic parks and experiences was due to higher volumes and increased guest spending, partially offset by higher costs. Higher volumes were due to increases in attendance, occupied room nights and cruise ship sailings. Cruise ships operated at reduced capacities in the current quarter while sailings were suspended in the prior-year quarter. Guest spending growth was due to an increase in average per capita ticket revenue, higher average daily hotel room rates and an increase in food, beverage and merchandise spending. The increase in average per capita ticket revenue was due to a favorable attendance mix and the introduction of Genie+ and Lightning Lane in the first quarter of the current fiscal year. Higher costs were primarily due to volume growth, cost inflation and higher marketing spending. Our domestic parks and resorts were open for the entire current quarter, whereas Disneyland Resort was closed for all of the prior-year quarter, and Walt Disney World Resort operated at reduced capacity in the prior-year quarter due to COVID-19 restrictions.”

 

The company said that it was still controlling domestic parks attendance in order to improve guest experience.

 

The stellar box office performance of Dr. Strange in the Multiverse of Madness was highlighted as well, which has now passed $500 million globally.

 

Disney CEO Bob Chapek also emphasized the importance and profitability of live sports going forward, and vaguely pointed to a major ramping up or shifting of ESPN content to streaming.

 

After the market closed, at the time of this writing, Disney shares were off by better than two percent. Shares recently were trading at or near 52-week lows.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

Two great ways to pre-order Cathedral: An Alliance of Saint Michael Novel, which is Ray’s sixteenth work of fiction, and the first in the Alliance of Saint Michael series. Signed paperbacks here and the Kindle edition here. 

 

Two great ways to order Ray Keating’s new nonfiction book – The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Signed paperbacks here, and paperbacks, hardcovers and Kindle editions here.  

 

Get all of Ray Keating Pastor Stephen Grant thrillers and mysteries in paperback and for the Kindle at Amazon.com and signed books at www.RayKeatingOnline.com. 

 

Get more out of the rest of 2022 with The Disney Planner 2022: The TO DO List Solution! It combines a simple, powerful system for getting things done with encouragement and fun for Disney fans, including those who love Mickey, Marvel, Star Wars, Indiana Jones, Pixar, princesses and more. Also, “The Disney Planner 2022: The TO DO List Solution” comes with a handy spiral binding for easy use. It’s on sale and shipping is always free!

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

Netflix vs. Disney: Who Really Has the Advantage?

 by Ray Keating

Analysis

DisneyBizJournal.com

January 26, 2022

 

When zeroing in on the battle between Netflix and Disney, the more traditional take is that Netflix has a big advantage given its number of subscribers. 

After all, Netflix has 222 million subscribers versus Disney +’s 118.1 million. Although one cannot ignore that Disney also has 17.1 million ESPN+ subscribers along with 43.8 million Hulu subscribers. That tallies up to a total of 179 million subscriptions. Hmmm.

 

But what if we just stick with Netflix vs. Disney+? A very interesting article at TheStreet.com caught my attention. Written by Daniel Kline, the article was titled “Netflix's Problem Isn't Membership. It's What Disney Has That It Doesn’t.” Well, what was Kline’s take with this provocative title?

 

While he starts out noting the market’s disappointment with the recent slowdown in Netflix’s subscriber growth, Kline correctly pointed out that when you’ve hit 222 million, some slowdown in growth should be expected. Instead, Kline asserts that Netflix’s real problem is about “content and spending.”

 

Kline argues that Netflix “basically throws shows at the wall to see what sticks.” That is, “Netflix has been releasing roughly 100 to 125 new shows, movies, and comedy specials each quarter. How many of those actually become hits -- maybe one or two each quarter? … Not owning high-interest IP forces Netflix to make a lot of shows and movies in hopes of having a hit.” He notes that Netflix is planning to spend $17 billion in 2022 on content.

 

Now, compare that to Disney+. Kline points to Disney’s vast IP library, including Star Wars, Marvel, Pixar, its own well-known characters, along with “Indiana Jones and a variety of other properties that it hasn't even bothered to use on its streaming service.” Yet.

 

Kline drives home his argument this way: “Essentially, the third or fourth most-popular ‘Star Wars’ show based on minor characters from that universe garners more interest than all but the top-tier Netflix content. That gives Disney a huge advantage as every show it puts on its streaming service essentially becomes a hit. Not all hits are at the same level – ‘The Mandalorian’ likely brings in more viewers than ‘The Mighty Ducks.’ But each swing the Mouse House takes has a solid chance to be a hit.”

 

It’s hard to argue with Kline’s take. While companies mismanage their assets on a regular basis (see Disney itself after Walt’s death until the arrival of Eisner, for example) and are punished in the marketplace accordingly, if Disney can work its creative magic with these vast assets, then the more typical analysis not too far down the road might be along the lines of how Netflix can rebound after being overtaken by Disney+.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

Get more out of 2022 with The Disney Planner 2022: The TO DO List Solution! It combines a simple, powerful system for getting things done with encouragement and fun for Disney fans, including those who love Mickey, Marvel, Star Wars, Indiana Jones, Pixar, princesses and more. Also, “The Disney Planner 2022: The TO DO List Solution” comes with a handy spiral binding for easy use. 

 

Keating has three new books out. Vatican Shadows: A Pastor Stephen Grant Novel is the 13^th thriller/mystery in the Pastor Stephen Grant series. Get the paperback or Kindle edition at Amazon, or signed books at www.raykeatingonline.com. Past Lives: A Pastor Stephen Grant Short Story is the 14th book in the series. Again, get the paperback or Kindle edition at Amazon, or signed book at www.raykeatingonline.com. And order the 15th book in the series What’s Lost? A Pastor Stephen Grant Short Story – grab it at Amazon.com or signed editions at www.raykeatingonline.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

Disney’s Staggering Spending on Content

 by Ray Keating

Analysis/Commentary

DisneyBizJournal.com

December 13, 2021

 

I know the news on what The Walt Disney Company plans to spend on content during its fiscal year 2022, which began on October 1, is not exactly new. It was released in late November. However, it’s taken a couple of weeks for the numbers to truly sink in with me.

 

Disney plans to up its annual spending on content by $8 billion – from $25 billion in 2021 to $33 billion this year. That’s an increase of 32 percent.

Now, this number isn’t just about Disney+. It covers Disney’s streaming, linear and sports programming. However, the increase seems to be all about streaming, that is, Disney+, Hulu and ESPN+. 

 

It was noted in the company’s 2021 annual report that the company would be producing 50 titles (both movies and episodic series) for theater and streaming releases. Also, it was reported that its General Entertainment division would be producing 60 unscripted series, 30 comedy series, 25 drama series, 15 docuseries/limited series, 10 animated series, 5 made for TV movies, and numerous specials and shorts.

 

While not a strictly apple-to-apples comparison given Disney’s greater variety of outlets, it has been reported that Netflix plans to spend about $17 billion in 2022 on content, and WarnerMedia, post-merger, is looking to spend $20 billion each year. 

 

Also, in April 2021, Amazon’s annual report showed that the company spent $11 billion on movies, episodic series and music for its Prime services in 2020, and that was up from $7.8 billion in 2019.

 

Content is king with Disney, and given that investors found the latest report on streaming subscriptions disappointing, 2022 promises to be a big test for the House of Mouse.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

Great Christmas Gift! The Disney Planner 2022: The TO DO List Solution is here! It combines a simple, powerful system for getting things done with encouragement and fun for Disney fans, including those who love Mickey, Marvel, Star Wars, Indiana Jones, Pixar, princesses and more. Also, “The Disney Planner 2022: The TO DO List Solution” comes with a handy spiral binding for easy use. 

 

Keating has three new books out. Vatican Shadows: A Pastor Stephen Grant Novel is the 13^th thriller/mystery in the Pastor Stephen Grant series. Get the paperback or Kindle edition at Amazon, or signed books at www.raykeatingonline.com. Past Lives: A Pastor Stephen Grant Short Story is the 14th book in the series. Again, get the paperback or Kindle edition at Amazon, or signed book at www.raykeatingonline.com. And order the 15th book in the series What’s Lost? A Pastor Stephen Grant Short Story – grab it at Amazon.com or signed editions at www.raykeatingonline.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

Disney’s “Black Widow” Decision Takes Hits from NATO and Other Critics

 by Ray Keating

News/Analysis

DisneyBizJournal.com

July 21, 2021

 

NATO is very upset with Disney. No, not that NATO. The National Association of Theater Owners.

 

NATO issued a press release earlier this week that praised Black Widow as “a well-made, well-received, highly anticipated movie.” But it also pointed out that the movie experienced “a surprising 41% second day drop, a weaker than expected opening weekend, and a stunning second weekend collapse in theatrical revenues.”

Indeed, the second weekend theatrical box office numbers for Black Widow dropped by 67 percent, which was the largest decline of any MCU movie. Disney also has been silent on Disney+ Premier revenues for the film after the opening weekend. For good measure, Black Widow ranked as the most pirated movie during its opening week.

 

NATO makes a case that Disney and the industry is leaving money on the table with the dual in theaters and at home release. NATO might be right … for now. But the movie business is in the midst of great change and experimentation.

 

Other than simply raising questions, the key NATO points were:

 

• “Based on comparable Marvel titles, and other successful pandemic-era titles like F9 and A Quiet Place 2 opening day to weekend ratios, Black Widow should have opened to anywhere from $92-$100 million. Based on preview revenue, compared to the same titles, Black Widow could have opened to anywhere from $97 to $130 million.” (See the actual opening numbers for Black Widow here.)

 

• “Premiere Access revenue is not new-found money, but was pulled forward from a more traditional PVOD window, which is no longer an option.”

 

NATO concludes that “simultaneous release is a pandemic-era artifact that should be left to history with the pandemic itself.” 

 

Of course, no one should be surprised that theater owners aren’t keen on home offerings like Disney+ or Disney+ Premier Access. And one can easily make the case that with more videos offered via streaming, including extra dollars from PVOD (premium video on demand), the movie business will face revenue losses and a rejiggering of business models. That process is well under way.

 

In a Deadline piece, the author, Anthony D’Alessandro, argued what “Disney’s CEO Bob Chapek, the studio’s Media and Entertainment Distribution Chairman Kareem Daniel, and Wall Street need to wake up to is that this Disney+ Premier theatrical model is a greater fugazi than Dogecoin itself, a means of decimating a great business model whereby consumers previously bought the same piece of IP twice: in theaters and later in an ancillary window. Those who purchased Black Widow on Disney+ won’t buy it again.” And he goes on berating Disney and others in the industry, noting, “The Napster millennials have grown up, Disney, and they’re used to getting their media for free. Is this really a road you want to continue on with future theatrical films?”

 

This is kind of funny. Mr. Alessandro, and many others in and around the industry seem to think that Hollywood CEOs are calling the shots. For their respective studios, they surely are. But entrepreneurs pushing technology forward, and consumers making decisions about options in the marketplace, are calling the ultimate shots. Companies like Disney are at least smart enough to see that vast changes are upon us, and business models must be adjusted, accordingly. The music industry failed to see what was happening, and it took Steve Jobs to save them. Newspapers never got it – with a tiny number of exceptions – and were decimated as a result. 

 

Fighting consumers and resisting technology are surefire paths to business oblivion. Streaming is here, and it is the future of the movie and television industries … for now, that is, until something else comes along to disrupt things. And that’s free enterprise, and it always has been. But now, in this high-tech, digital age, change simply comes a heck of a lot faster.

 

Yes, it’s a time of great experimentation in terms of how movies are presented to consumers. But make no mistake, it will be consumers who decide which model works and which doesn’t. If you’re in the movie business and that makes you uncomfortable, it’s time to pick another career.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the  Pastor Stephen Grant novels and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

Keating has three new books out. Vatican Shadows: A Pastor Stephen Grant Novel is the 13ththriller/mystery in the Pastor Stephen Grant series. Get the paperback or Kindle edition at Amazon, or signed books at www.raykeatingonline.com. Past Lives: A Pastor Stephen Grant Short Story is the 14th book in the series. Again, get the paperback or Kindle edition at Amazon, or signed book at www.raykeatingonline.com. And order the 15th book in the series What’s Lost? A Pastor Stephen Grant Short Story – grab it at Amazon.com or signed editions at www.raykeatingonline.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

 

You also can order his book Behind Enemy Lines: Conservative Communiques from Left-Wing New York  from Amazon or signed books  at RayKeatingOnline.com. His other recent nonfiction book is Free Trade Rocks! 10 Points on International Trade Everyone Should Know. 

 

Please support the efforts of DisneyBizJournal.com to bring news, analysis and commentary on Disney to readers such as yourself. Make a contribution right here via PayPal. Thanks!