Disney warns restructuring could result in impairment charges


Traders work at the post where Walt Disney Co. stock is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid/File Photo

(Reuters) -Walt Disney Co on Tuesday said it anticipates organizational and operational changes in the company that could result in impairment charges, according to a regulatory filing.

The changes follow Bob Iger's return as Disney's chief executive officer.

Disney said Iger's mandate is to put the company on the path for renewed growth. As he sets a strategic direction for the company, Disney said it anticipates changes in the coming months.

On the first day on the job, Iger announced plans to restructure the Disney Media and Entertainment Division, a unit his predecessor created in October 2020 to centralize the distribution of content.

The restructuring and change in business strategy, once determined, could result in impairment charges, the company said in its filing.

Read more:

'Boomerang CEOs' don't always work out; Disney hopes this one bucks trend

Disney brings back Bob Iger as CEO in surprise move to boost growth

Disney CEO Iger makes profitable streaming a priority

(Reporting by Dawn Chmielewski in Los Angeles; Editing by Mark Porter and Lisa Shumaker)

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

   

Next In Tech News

Uber to steal a march on Lyft in resurgent rideshare market
Meta settles U.S. lawsuit over infinity-logo trademark
U.S. judge rejects new bail conditions for FTX founder Bankman-Fried
Consumers to face 20,000 pound limit on digital pound, Bank of England says
U.S. prosecutors ask to postpone SEC, CFTC cases against Bankman-Fried
Ex-Coinbase manager pleads guilty in insider trading case
Central bank test lab to trial 'stablecoin' monitoring system
Exclusive-AFL-CIO wants bigger say in U.S. digital trade deals for workers
Retail investors flock to small-cap AI firms as Big Tech battles for share
STMicro leans on AI, cloud as chip designs become more complex

Others Also Read