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Disney to pause all business in Russia -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: In this illustration taken Jan 20, 2022, toys of humans are shown in front of the Disney + logo. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) – Walt Disney (NYSE:) Co announced Thursday that it would suspend all Russian business, including product licensing and content licensing for Disney Cruise Line, National Geographic magazine, tours and National Geographic magazines, as well as content and product licenses.

The media and entertainment firm stated that “Given Ukraine’s unrelenting attack and the growing humanitarian crisis,” they are taking measures to suspend all Russian businesses.

Disney indicated that certain businesses, including content- and product-licensorship companies and linear channels will have to wait for their contracts to change. Other streams of business can pause right away.

The studio had previously said that it would stop theatrical film releases in Russia. Warner Bros. also has studios in Hollywood. Sony Pictures Entertainment also took such a decision last month, in response to Russia’s invasion of Ukraine. Russia called Russia’s actions in that country “special operations.”

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