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Last week, the entertainment and media conglomerate announced plans to halt the release of new movies in Russia, but now the company is taking additional steps to shut down the rest of its operations in the country, reports variety.com.
Disney has several linear channels and consumer product brands across Russia, as well as a cruise port located in St. Petersburg.
"Given the unrelenting assault on Ukraine and the escalating humanitarian crisis, we are taking steps to pause all other businesses in Russia. This includes content and product licensing, Disney Cruise Line activities, National Geographic magazine and tours, local content productions and linear channels," the Disney spokesperson said.
"Some of those business activities we can and will pause immediately. Others -- such as linear channels and some content and product licensing -- will take time given contractual complexities."
Disney's statement noted staff based in Russia will continue to be employed.
"Even as we pause these businesses, we remain committed to our dedicated colleagues in Russia, who will remain employed. And we continue to work with our NGO partners to provide urgent aid and other much-needed assistance to refugees," the statement continued.
Russia has faced swift economic blowback to its decision to wage war on Ukraine.
In response to the country's full-scale invasion, several entertainment companies, including Amazon, Netflix and WarnerMedia, have decided to pause or entirely withdrawal business in Russia, while all of the major studios have announced they will stop premiering their films in the country.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Fri, March 11 2022. 10:53 IST