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'I'm More Bullish' on Disney's ESPN Subscribers: More Squawk From Jim Cramer

NEW YORK (TheStreet) -- Shares of Walt Disney (DIS) were higher in mid-morning trading on Friday, despite reporting a 2016 fourth quarter miss on the top and bottom line after Thursday's closing bell. The entertainment company has come under fire recently after Nielsen reported that its ESPN sports cable channel lost 621,000 subscribers in one month.

The stock was down initially after the results came out because the "narrative is not so great," but it made a "U-turn" during the company's Q&A session when CEO Bob Iger said the company has a "more bullish position on the future of ESPN's sub base," noted TheStreet's Jim Cramer on CNBC's "Squawk on the Street" this morning.

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