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June 24, 2020, 9:03 p.m. EDT

Disney delays reopening Disneyland and other California theme parks

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By Mike Murphy

DIS

The Walt Disney Co. /zigman2/quotes/203410047/composite DIS -0.54% is delaying the reopening of its California theme parks, including Disneyland, which had been scheduled to start reopening July 17. "Given the time required for us to bring thousands of cast members back to work and restart our business, we have no choice but to delay the reopening of our theme parks and resort hotels until we receive approval from government officials," Disney said in a statement late Wednesday. It did not give a new reopening date, but said the state of California does not plan to update its guidelines on theme parks until after July 4. "Once we have a clearer understanding of when guidelines will be released, we expect to be able to communicate a reopening date," the company said. Disney still must negotiate with its unions before reopening, but union members have been critical of the company's "rapid timetable" to reopen, especially considering the recent spike in coronavirus cases in Southern California.

/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 185.49
-1.00 -0.54%
Volume: 6.83M
April 13, 2021 4:04p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$338.53 billion
Rev. per Employee
$320,813
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