Disney posts $2.8 billion loss for the year

Posted | Contributed by Jeff

With the movie and theme park industries still reeling from the disastrous impact of the coronavirus pandemic, the Walt Disney Company on Thursday posted a rare annual loss of $2.8 billion during the 2019-20 fiscal year. For the quarter ending Oct. 3, the company’s parks, experiences and products division suffered another brutal hit, losing $1.1 billion.