(Reuters Breakingviews) - The risks to Walt Disney’s business are multiplying. M...
Sculptor Artem Samoylov of Russia carves a sculpture based on Disney's movie"Frozen" at the Snow and Ice Sculpture Festival in Bruges November 20, 2013. REUTERS/Francois Lenoir
Global social distancing is causing chaos. The $171 billion Disney late last week slammed the doors shut on its amusement parks in California, Florida and Paris and suspended its cruises after making similar moves with its resorts in Shanghai and Hong Kong. Also, the cancellation of major American sports including the National Basketball Association, National Hockey League and the college-level basketball tournament known as March Madness presents challenges to Disney’s lucrative cable sports network ESPN.
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Disney business risks getting frozenMore than half the $171 bln entertainment giant's sales come from divisions encompassing theme parks and movie theaters, both empty thanks to the coronavirus. Canceled sporting events are also trouble for ESPN. Former CEO Bob Iger has left his successor with serious headaches.
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Disneyland, Disney World closed through end of month amid coronavirus outbreakDisneyland and Disney World are now closed. The iconic holiday destinations became just the latest American institutions to shut because of the coronavirus...
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