LOS ANGELES:

Walt Disney Co has warned investors that its ongoing dispute with YouTube TV could drag on, sparking fresh concerns about the company's shrinking traditional television business, as its quarterly revenue fell short of market expectations.

Disney's Chief Financial Officer Hugh Johnston told analysts the company had "built a hedge" into its forecasts to account for a potentially lengthy blackout of its TV networks on YouTube TV — the fourth-largest pay-TV provider in the United States with about 10 million subscribers.

The channels went dark on October 30 following a breakdown in carriage rights negotiations between Disney and YouTube's parent company, Alphabet. "Disney is reducing its reliance upon cable companies to distribute its channels, said Ross Benes, senior analyst a

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