Home Disney--Getting Lost One-Third Of Its Value--Seeks To Raise Cash

Disney–Getting Lost One-Third Of Its Value–Seeks To Raise Cash

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Topline: Disney will try to raise cash through debt, according to a Thursday filing with the SEC, to offset the reduction in revenue it will experience from park closures and movie delays. Disney, which was riding high at the start of the year with a $12 billion box office tally in 2019 and a crush new streaming support, has dropped nearly one-third of its market value in the past month. The organization chose last week to close its parks in Disneyland, Walt Disney World, and Disneyland Paris, along with its theme parks in Asia;

The national parks and hotels alone include 30 percent of Disney’s operating earnings, according to UBS. Disney cautioned investors in a different Thursday filing that the company has been affected on all sides, with movie releases and manufacturing being postponed, supply chains experiencing disruption and ad sale declines. With interest rates near zero, Rosenblatt Securities analyst Bernie McTernan states this is a fantastic time for businesses to raise cash; Disney in particular, with its strong balance sheet, is in a fantastic position to accomplish this, he says. Disney did not disclose the sum it would seek through the debt offering. Big number: $78.5 billion.

It’s a start to the tenure as CEO of Bob Chapek.The upside: Disney+ can see an increase. The streamer currently has more than 26 million readers and a back catalog of Star Wars, Marvel and vintage Disney movies to fall back on if creation plans are on hold. The simple fact it is family-friendly doesn’t hurt, either. “If you’re a parent trying to amuse a kid at home, that’s a great option right now,” states McTernan.Further reading: Even when the pandemic passes, the economics of the movie might be different for Disney and the rest of the business. This week its window broke for releases, and there’s the question as to whether studios will return to releasing their movies. 

Also Read:   Why WandaVision TV series release date is postponed?
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