Disney Postpones Film Releases in Response to Coronavirus Outbreak

Disney is postponing the release dates for most of its upcoming films due to the disruption caused by the coronavirus pandemic, a media report says.
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Walt Disney Co.  (DIS) - Get Report is postponing the release dates for most of its upcoming films due to the disruption caused by the coronavirus pandemic, a media report says.

Shares of Disney were 3.9% to $93.23.

The entertainment giant's release of several films will be moved to later dates this year and into 2021 and 2022, Variety reported.

Among other titles being rescheduled are “Black Widow,” “Mulan,” “The New Mutants,” “The Eternals,” “Jungle Cruise,” “Bob’s Burger," “Doctor Strange in the Multiverse of Madness”, "Thor: Love and Thunder", and “Captain Marvel 2.”

"Artemis Fowl” which was due in theaters at the end of May, will now debut on Disney+.

“With audiences largely unable to attend theaters in the current environment, we are thrilled to offer the premiere of "Artemis Fowl" on Disney+,” Ricky Strauss, president of content and marketing at Disney Plus, said in a statement. 

The coronavirus outbreak has forced movie theaters to shut down and film companies to halt production.

The latest James Bond film, “No Time to Die” was the first high-profile film to get pushed back due to the spread of the virus, after MGM early last month put the release off to November.

The film’s British opening had been pushed to Nov. 12 and its release in the United States had been delayed until Nov. 25.

Paramount postponed the release for “Top Gun: Maverick,” as well as its sequel to “A Quiet Place,” and Universal said it would delay the release of “Minions: The Rise of Gru” and “Fast & Furious” entry “F9.” 

On Thursday The Wall Street Journal reported that Disney was furloughing employees across all divisions in its U.S. operations. The company didn't specify a number.