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CORPORATE EXODUS

Disney to pause all business in Russia

A person dressed up as Mickey Mouse during a snow storm on 23 March 2016 in Kazan, Russia. (Photo: Oleg Nikishin / Epsilon / Getty Images)

The Walt Disney Company said on Thursday that it will pause all business in Russia, including content and product licensing, Disney Cruise Line activities, National Geographic magazine and tours, local content productions and linear channels.

“Given the unrelenting assault on Ukraine and the escalating humanitarian crisis, we are taking steps to pause all other businesses in Russia,” the media and entertainment company said.

Disney said some businesses, including linear channels and content and product licensing, will take time to pause due to contractual nuances, while other streams of business will pause immediately.

The company had earlier said it would halt the release of theatrical films in Russia. Other Hollywood studios, including Warner Bros and Sony Pictures Entertainment, also had decided on such a move last month in response to Russia’s invasion of Ukraine. Russia has called its actions in the country a “special operation”.

(Reporting by Chavi Mehta in Bengaluru. Additional reporting by Akash Sriram. Editing by Arun Koyyur.)

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