The Walt Disney Company published a financial report on Wednesday, claiming it had lost $195 million from shutting down its Disney Channel alone in Russia.
“In the current quarter, the Company recorded charges totaling $195 million due to the impairment of an intangible asset related to the Disney Channel in Russia,” the document stated.
On March 10, Walt Disney announced it was suspending all business activities in Russia due to Moscow’s military operation in Ukraine. Disney’s dealings in the country included content and product licensing, cruise lines, the National Geographic magazine and tours, local content productions, and linear channels.
“After Russia’s unprovoked invasion of Ukraine, we announced that we were pausing the release of theatrical films in Russia and reviewing the rest of our businesses there,” Walt Disney’s statement said. “Given the unrelenting assault on Ukraine and the escalating humanitarian crisis, we are taking steps to pause all other businesses in Russia.”