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Walt Disney Co.’s Disney+ streaming service turned one year old on Thursday. The company spent the birthday as it has the past several months in a Covid-19 world: Counting on the service for hope during an otherwise dreadful time.

Disney posted its second consecutive quarterly loss on Thursday, as the effects of the pandemic continued to ravage core businesses like theme parks and movie distribution that aren’t expected to return to normal in the foreseeable future.

But…

This post first appeared on wsj.com

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