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Photo: Mike Kemp/Getty Images.

Disney CEO Bob Iger finally announced details for the long-awaited Disney streaming bundle that executives have been teasing for months. The bundle is meant to be an alternative to Hollywood rival Netflix.

Details: For $12.99 monthly, consumers can access Disney+, ESPN+ and the ad-supported version of Hulu. The deal will be available when Disney+ launches on Nov. 12. The combined package will be cheaper than Netflix's premium package, which is $13.99 a month.

Driving the news: The update came as Disney executives walked investors through the high-level results of its third quarter earnings, which missed investor expectations.

  • The company's massive success at the box office last quarter wasn't enough to save the entertainment giant from an earnings and revenue loss. The entertainment giant's stock price fell roughly 5% in after-hours trading Tuesday.

Be smart: It was the first full quarter that Disney reported earnings after acquiring much of 21st Century Fox in March.

The big picture: Investors had high hopes for Disney ahead of earnings, with many expecting the company to report high top-line growth in response to major successes at the box office and high attendance at its domestic theme parks over Memorial Day weekend.

  • Yes, but: Operating costs were high and cut into the company's profit margins. This was largely a result of investments Disney made in its new streaming products and paying down its 21st Century Fox acquisition.

Our thought bubble: Tuesday's report sent a message to investors that if Disney's bet on streaming doesn't pan out, its traditional businesses may not be enough to protect the company from long-term industry changes.

What's next: Executives said they expect operating losses to continue to widen next quarter due to more investments in its streaming products.

Go deeper

A city's catharsis

A view outside the Hennepin County Courthouse after yesterday's verdict. Photo: Stephen Maturen/Getty Images

Celebration and catharsis filled the streets of Minneapolis yesterday. After weeks on edge, many breathed a sigh of relief upon hearing Judge Peter Cahill read the sweep of guilty verdicts against Derek Chauvin.

What they're saying: "George Floyd isn't coming back to life, but this is the justice we were looking for," Jaqui Howard, who joined the crowds outside the courthouse yesterday, told The Star Tribune.

What to expect from Derek Chauvin's sentencing

Screenshot via CNN

Derek Chauvin was whisked away to prison after after two weeks of testimony and about 10 hours of jury deliberations, but his sentencing will move much slower — about eight weeks.

What's next: There's still plenty of wrangling left over how much time the former Minneapolis cop will spend behind bars.

Caitlin Owens, author of Vitals
2 hours ago - Health

The U.S. is approaching the vaccine hesitancy "tipping point"

Expand chart
Data: CivicScience; Chart: Axios Visuals

The U.S. will probably run out of adults who are enthusiastic about getting vaccinated within the next two to four weeks, according to a KFF analysis published yesterday.

Between the lines: Vaccine hesitancy is rapidly approaching as our main impediment to herd immunity.