Disney has a lot of business interests in Russia. And now they are all on hold, as the company is the latest to stop doing business with the country amid the ongoing invasion of Ukraine.
Earlier, the country said it would halt the release of theatrical films in Russia, starting with the Pixar film “Turning Red.” Now, it has announced that it will be pausing “content and product licensing,” in the country.
Disney-branded consumer products and National Geographic magazine and tours, which have long been available in Russia, will be pulled for the time being.
St. Petersburg has been a port of call for Disney’s cruise ships for many years, but the Disney Cruise Line won’t be going to the country for now.
"Given the unrelenting assault on Ukraine and the escalating humanitarian crisis, we are taking steps to pause all other businesses in Russia," the company said in a statement. It also noted that the company’s Russia-based employees will remain employed, and that it will take a while for the company to fully divest from the region.
“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.”
In recent days, Amazon (AMZN), WarnerMedia (T), Netflix (NFLX) and Discovery (DISCA) have all paused their Russia businesses, and international film and TV production has ceased there as well.
Disney has been struggling back home in the United States with a public image headache, given recent revelations that it backed the politicians behind Florida’s controversial “Don’t Say Gay Bill,” which critics perceive as harmful to the LGBTQ community.
Though Disney CEO Bob Chapek expressed support for the community, the company’s reluctance to fully denounce the bill or to stop funding its backers has earned the company a deluge of criticism and boycott threats.
