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Disney, hit hard by coronavirus, to face Wall Street questions on impact on company By Reuters

Trade News by Trade News
May 4, 2020
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Disney, hit hard by coronavirus, to face Wall Street questions on impact on company By Reuters
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© Reuters. FILE PHOTO: Walt Disney Co's  Disneyland and California Adventure theme parks in Southern California are now closed due to the global outbreak of coronavirus in Anaheim© Reuters. FILE PHOTO: Walt Disney Co’s Disneyland and California Adventure theme parks in Southern California are now closed due to the global outbreak of coronavirus in Anaheim

By Lisa Richwine

LOS ANGELES (Reuters) – Walt Disney Co’s (N:) acquisitions spree that included swallowing much of Rupert Murdoch’s 21st Century Fox (NASDAQ:) last year, and a reputation for operational excellence, turned the company into the world’s most powerful entertainment machine.

That girth has now made it the most vulnerable among media companies during the global coronavirus pandemic. On Tuesday, Wall Street will assess the level of damage and look for signs of a bottom.

With sports leagues dormant, Disney’s ESPN cable channel has resorted to showing reruns of old games and fringe programming like stone-skipping competitions. Profit centers such as its theme parks and cruises are either closed or docked. Its powerful content engine has slowed…



Source investing.com

Tags: companycoronavirusDisneyfacehardhitimpactquestionsReutersStreetWall
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© Bloomberg. Bicyclists ride near the Berlaymont building in Brussels, Belgium. Photographer: Olivier Matthys/Bloomberg (Bloomberg) --Belgium will reopen bars...

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