Disney’s Club Penguin Misses Profit Targets — No $350 Million Earnout

Kids’ virtual world Club Penguin may have helped boost Disney’s digital revenues with its higher subscription revenues, but according to the company’s 10k filing, the unit failed to meet earnings targets set when it was acquired in August 2007.

Disney (NYSE: DIS) bought the Canadian company for $350 million in cash, with the promise of doubling that amount if it hit predetermined profit benchmarks between 2008 and ’09. As <a href="10-Q Watch: No Earnout For Club Penguin Founders In