Walt Disney Co. has decided to shut down Blue Sky Studio’s -an animation company which was acquired by Disney when it purchased Fox’s entertainment assets 2 years ago. The Blue Sky Studio is best known for its world wide franchise of animation films like Ice Age, Rio and Spies in Disguise.
The closing process is said to be completed in the next 2 months and will eliminate over 450 positions. Disney currently owns Pixar and Disney animation studios too and unlike many industries it has been hit with the adverse effects of the global pandemic and took the step of closing down the shop on Blue Sky.
Disney is said to has lost over $2.86 billion in sales of $65.4 billion in the last fiscal year. It’s report for the current fiscal year is due on Feb 11.