Disney Puts a Stop to GO.com
Walt Disney (DIS Quote) said Monday it will shut down its GO.com Internet portal and convert all of Walt Disney Internet Group's (DIG Quote) outstanding shares of common stock into shares of Disney common stock.
Each outstanding share of Disney Internet Group common stock will be converted into 0.19353 shares of Disney common stock as of March 20. Disney will take charge of $790 million in its fiscal second quarter for a writeoff of intangible assets and another charge of $25 million to $50 million for costs related to severance and other items.
The Walt Disney Internet Group will continue to function under its current management structure as a business segment of the parent company and will operate a variety of Web sites tied to the company's various media and merchandising properties, including DisneyStore.com, Family.com, ESPN.com, ABC.com and ABCNEWS.com. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,328.89 | 1,102.47 | 2,211.69 | 35.46 |
Oil *
73.88
|
|
UP
20.63
|
UP
6.40
|
UP
31.64
|
UP
0.59
|
10 Yr
3.55%
SPDR Gold
108.95
|
|
+0.20%
|
+0.58%
|
+1.45%
|
+1.69%
|
Data delayed 20 minutes |
Connect with TheStreet