Disney Taking Steps to Pause All Business in Russia

Disney Taking Steps to Pause All Business in Russia

The Walt Disney Company is working to suspend all business in Russia following the country’s “unprovoked invasion of Ukraine,” a spokesperson said Thursday.

Last week, the entertainment and media conglomerate announced plans to halt the release of new movies in Russia, but now the company is taking additional steps to shut down the rest of its operations in the country.

“Given the unrelenting assault on Ukraine and the escalating humanitarian crisis, we are taking steps to pause all other businesses in Russia. This includes content and product licensing, Disney Cruise Line activities, National Geographic magazine and tours, local content productions and linear channels,” the Disney spokesperson said. “Some of those business activities we can and will pause immediately. Others—such as linear channels and some content and product licensing—will take time given contractual complexities.”

The statement noted that staff based in Russia will continue to be employed.

“Even as we pause these businesses, we remain committed to our dedicated colleagues in Russia, who will remain employed. And we continue to work with our NGO partners to provide urgent aid and other much-needed assistance to refugees,” the statement continued.

Across the entertainment industry, companies including Amazon, Netflix, and WarnerMedia have decided to pause or withdrawal business in Russia, and all of the major studios have announced they will stop premering their films in the country. Outside of Hollywood, businesses like Microsoft, Apple and Dell have suspended sales in Russia, while Ikea has closed stores and Nike said it will not continue to fulfill online orders.

More to come…

Source: Read Full Article