Walt Disney to take a 30 million dollar loss on closing Mobile ESPN service

Walt Disney to take a 30 million dollar loss on closing Mobile ESPN service

The Walt Disney Co. would be spending around $30 million to shut down its Mobile ESPN wireless telephone services.

However, the company continues to remain optimistic about their family-oriented Disney Mobile phone service.

Disney Chief Financial Officer Tom Staggs said in a statement that the company would write down the ESPN termination costs mostly in the next fiscal year.

Disney had recently revealed their plans to close down the Mobile ESPN division and would soon license this brand to existing mobile service providers.

They are also running a similarly designed Disney Mobile service aimed at families in the US market.

Staggs spoke on the Disney Mobile service plans: “We remain excited about Disney Mobile service. It has been getting a lot of kudos from a lot of parents. They’ve just really soft launched it so it’s early days yet.”