Amid conflicting news that the National Basketball Assn. lockout would significantly affect ESPN cable sports network, Walt Disney’s Chief Financial Officer Jay Rasulo has come out to dilute all the fears, thereby ensuring that the crisis would soon be resolved.

The entertainment firm Walt Disney has seen a 40% rise in its profits because of the hit movies like Alice in Wonderland and Toy Story 3. The firm has reported a net profit of 1.3 billion dollars in the three months till 3rd July from 954 million dollars of a year ago. 

Walt Disney, the company's whose results are closely watched for assessing the performance of entertainment industry, has seen a jump of 40 per cent in its profit.

This happened because it was able to produce three hit movies, but most of the contribution came from the Toy Story 3 movie. The other two were Iron Man 2 and Alice in Wonderland.

Walt Disney Co. will launch new technology code -named Keychest by next month which will benefit the entertainment companies that is in accordance with the latest trends in entertainment where the customers have made TV sets and DVD players somewhat obsolete and rather use cell phones or computers for the same. Disney trusts that with key-chest technology the interest in Blu-ray and DVD can be prolonged as the viewers would rights to watch the movie in different ways which includes the traditional disc.