Feeds

Disney confirms Go.com death

400 staff out on the street

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

The Walt Disney Co has confirmed it is to kill off its Go.com Net portal.

The move will result in around 400 layoffs, mostly in Sunnyvale, California, and the company will take a Q2 charge of around $800 million. It is also looking to sell the Go.com name and InfoSeek search engine.

The announcement comes just weeks after Rupert Murdoch's News Corp said it was shutting its online division, while the New York Times also said it would cut back on its Web operations.

The Disney Internet Group will continue under its current management but is destined to become a business unit of Disney, while all outstanding shares of Disney Internet Group will be converted into regular Disney stock.

"The Internet continues to be a central focus of our company's business strategy," said Michael Eisner, chairman and CEO. "We believe this action should help us gain greater competitive advantage as we leverage Disney's creative content, brands and other assets." ®

Related Stories

Disney forced to remove Go Network logo
Infoseek porn exec gets porridge for Xmas
Online ad spend set to rocket in Europe
Disney buys out rest of Soccernet
Disney's Eisner solves Net piracy problem

Intelligent flash storage arrays

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Internet Security Threat Report 2014
An overview and analysis of the year in global threat activity: identify, analyze, and provide commentary on emerging trends in the dynamic threat landscape.