Disney Funds $24B Content Budget and $9B Buyback Through Job Cuts and Scrapped OpenAI Cash

Disney is funding a $24 billion fiscal 2026 content budget and a $9 billion share repurchase programme through job cuts and redirected capital, CFO Hugh Johnston told the August 5, 2026 earnings call. Disney cut several hundred jobs in July, following about 1,000 earlier in 2026. The buyback draws partly on cash from a scrapped $1 billion OpenAI investment and $1.2 billion from the A&E transaction.