Walt Disney Co. is betting the kingdom on streaming, and so far it appears to be paying off. Hot on the tail of announcing two major deals with the NFL and WWE, Disney upped its forecast for its streaming business for the rest of the year and revealed several significant changes to come.

The entertainment giant is counting on the two businesses to help it deal with cord-cutting and an up-and-down movie division.

Disney's profit and revenue climbed in its fiscal third quarter based on the strength of the entertainment company's streaming service and domestic theme parks.

ESPN and the NFL are helping to rewrite the playbook for keeping sports-media sustainable. In an unorthodox maneuver, the league will take a minority stake in the giant Disney sports outlet, which will gain control over NFL Network and the NFL RedZone highlights service,

Walt Disney's ESPN has reached a landmark deal with the National Football League to acquire NFL Network and other media assets from the league in exchange for the NFL taking a 10% equity stake in the sports network,