Quarterly reports from Disney, Sony and WMG

THERE’S NO BUSINESS LIKE SHOW BUSINESS: The happiest place on earth is even happier this morning on the heels of a stellar quarterly earnings report, highlighted by a 75% increase in operating income, driven by the wildly successful animated musical Frozen and its smash soundtrack album, which is on track to pass 1 million the week after next. While Disney celebrates, Sony is cutting its losses, announcing that it will sell its Vaio PC unit and spin off its battered TV business while forecasting a $1.1-billion quarterly loss. These moves serve to make Sony Pictures, Sony Music and Sony/ATV—initially peripheral contributors to Sony’s core electronics business—even more central to the company’s future. Finally, Warner Music—a sexy trinket in the massive portfolio of commodities kingpin Len Blavatnik—filed a net loss of $37 million for its fiscal Q1, compared to an $80m loss in the previous quarter. (2/6a)