Over the past two weeks, Disney and both issued warnings of “adverse impact” from the coronavirus pandemic on their business. Both companies also sold debt securities, raising $6 billion and $1.2 billion, respectively.
Disney, which combines the company’s legacy assets with those acquired in the $71.3 billion Fox acquisition, this week sent an internal memo announcing companywide pay cuts for all executives VP and above.
Meanwhile, Fox Corp., comprised of the assets left behind in the merger, two weeks ago sent an internal memo informing employees the company would be covering everyone’s medical insurance premiums for the next six months. “Your health and safety are our priority during this challenging time,” CFO John Nallen wrote in the memo. “We will continue to look for ways