Disney takes $1.5 billion writedown on programs it’s removing from streaming
Disney said it anticipates another $400 million impairment charge related to film
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California: Walt Disney Co. will record a $1.5 billion expense related to programming it’s 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, and will be recorded in the current fiscal third quarter.
In May, Disney said it was weighing a write off of up to $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 $400 million impairment charge related to film and TV content.