The Walt Disney Co. pulled back the curtain a bit on the disruptions to its businesses from the coronavirus outbreak and measures to contain it, warning of 'ad sales impacts' and 'a disruption in creation and availability of content we rely on.' Details:
The Hollywood giant says it has also"experienced supply chain disruption" from social distancing and other efforts to contain the virus spread.
"The impact of the novel coronavirus ... and measures to prevent its spread are affecting our businesses in a number of ways. We have closed our theme parks; suspended our cruises and theatrical shows; delayed theatrical distribution of films both domestically and internationally," the Hollywood giant said in an SEC filing, also cited "ad sales impacts."
"In addition there has been a disruption in creation and availability of content we rely on for our various distribution paths, including most significantly the cancellation of certain sports events and the shutting down of production of most film and television content," the studio added. "Our businesses could also be impacted should the disruptions from COVID-19 lead to changes in consumer behavior. The COVID-19 impact on the capital markets could impact our cost of borrowing. There are certain limitations on our ability to mitigate the adverse financial impact of these items, including the fixed costs of our theme park business," Disney said in a SEC filing.
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