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Disney Loses Nearly $5 Billion as Pandemic Slams Theme Parks


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Disney Loses Nearly $5 Billion as Pandemic Slams Theme Parks

Walt Disney Co. posted its first quarterly loss since 2001, nearly $5 billion, as the majority of its business segments reeled from government efforts to corral the coronavirus by shutting down public spaces around the world. The Covid-19 pandemic has closed Disney’s theme parks, virtually eliminated movie distribution and curtailed live sports, a key programming…

Walt Disney Co. posted its first quarterly loss since 2001, nearly $5 billion, as the majority of its business segments reeled from government efforts to corral the coronavirus by shutting down public spaces around the world.

The Covid-19 pandemic has closed Disney’s theme parks, virtually eliminated movie distribution and curtailed live sports, a key programming source for Disney TV networks. However, the world’s shut-in nature has helped the company’s Disney+ streaming service secure more than 60 million users in nearly…

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