Disney to reboot 'Home Alone' and 'Night At The Museum'

Disney is to reboot the Home Alone, Night at the Museum, Diary of a Wimpy Kid and the Cheaper by the Dozen franchises, the studio has confirmed.

As part of the reset of the Fox studio, which it acquired earlier this year, the reboots will be made for its new streaming platform, Disney+, but it's not known yet what format they will take – whether they could be new movies or TV series.

Disney boss Bob Iger told shareholders during the announcement of its third quarter earnings that the franchises would be 'reimagined for a new generation'.

Read more: Disney has made nearly ￡6b from its remakes

However, it was not all good news.

Despite massive grosses from movies like Avengers: Endgame, The Lion King, Captain Marvel, Toy Story 4 and Aladdin, and likely its highest earning year ever being on the cards, the studio's share price dropped by 4% yesterday, as its earnings fell short of expectations on Wall Street.

Analysts expected $21.4 billion in earnings, while it made $20.3 billion, while predictions of $1.71 a share actually came in at $1.35 a share.

Some of this is due to the losses its facing from the Fox studio, which it spent $71 billion buying in March this year.

Fox suffered an operating loss of a massive $170 million, which is down to the huge failure of Dark Phoenix, the latest X-Men movie.

It cost $200 million to make, and ended up making just $252 million back, which when marketing and advertising costs had been added, accounts for the shortfall.

Read more: Disney smashes its own box office record

“One of the biggest issues we faced in the quarter was the performance of the Fox film business,” Iger said. “It was well below what it had been and well below what we thought it would be when we did the acquisition.”

But things will likely start looking up.

The studio has already beat last year's worldwide haul at the box office, and it's only August, with three more potential billion dollar plus movies yet to come, in the form of Maleficent 2, Frozen 2 and Star Wars: The Rise of Skywalker.