Disney takes US$1.5 billion writedown on programmes it is removing from streaming
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(Bloomberg) – Walt Disney will record a US$1.5 billion expense related to programmes it is removing from the Disney+ streaming platform.
The expense is part of a previously announced plan to write down some programming, the company said in a filing Friday (Jun 3), and will be recorded in the current fiscal third quarter.
In May, Disney said it was weighing a write-off of up to US$1.8 billion to reflect the diminished value of movies and TV shows that were coming off the Disney+ service.
In the filing Friday, Disney said it anticipates another US$400 million impairment charge related to film and TV content. BLOOMBERG
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