Disney to Temporarily Close Florida and Paris Theme Parks

Walt Disney World Resort in Florida and Disneyland Paris Resort will close beginning Monday through to the end of March.
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Walt Disney  (DIS) - Get Report said Friday it would close Walt Disney World Resort in Florida and Disneyland Paris Resort starting March 16 through to the end of the month.

The entertainment giant announced Thursday the temporary closure of the Disneyland Resort and the Disney California Adventure Park in Anaheim, Calif., in response to the threat posed by the coronavirus pandemic.

"In an abundance of caution and in the best interest of our guests and employees, we are proceeding with the closure of our theme parks at Walt Disney World Resort in Florida and Disneyland Paris Resort, beginning at the close of business on Sunday, March 15, through the end of the month," the company said in a statement on Friday.

Disney Cruise Line also will suspend all new departures beginning on Saturday through the end of March, the company said.

Walt Disney said its hotels at Walt Disney World and Disneyland Paris will remain open, as will retail shops and dining complexes until further notice.

Disney said it also was asking employees at its vast properties who could work from home to begin doing so.

Shares of Walt Disney were rising 5.78% in trading Friday to $97.12. The stock fell nearly 13% on Thursday as the Dow Jones Industrial Average sank 10% as fears of the economic fallout from the coronavirus pandemic escalated.

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