06:09 AM EDT, 08/09/2024 (MT Newswires) -- Walt Disney ( DIS ) aims to spend a minimum of $1 billion annually to produce movies and TV shows in the UK, Europe, the Middle East and Africa over the next five years, Reuters reported Friday, citing a company spokesperson.

The company told Reuters in an emailed statement that it will dedicate the sum to films, Disney+, National Geographic and other TV productions, and may build on the recent success of films like "Inside Out 2" and the company's television business.

Disney ( DIS ) did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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