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Walt Disney’s Internet Group sees losses widen

Published on .

The Walt Disney Internet Group, a division of Walt Disney Co., will soon be rolled back into the company, announced that its losses widened during the fiscal first-quarter, after charges. Its revenues also fell 5% from pro forma revenues in the same quarter a year ago. Walt Disney said the net loss related to its Internet Group widened to $99.1 million, compared with a pro forma loss of $74.1 million in the previous quarter. Disney recently announced it would shutter its portal Go.com, which had been losing money, and close the tracking stck for Walt Disney Internet Group, the unit that oversaw Go.com, as well as ABCNews.com, ESPN.com and other Disney Internet properties.

Copyright February 2001, Crain Communications Inc.

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