Walt Disney Co is closing the animation studio behind film franchises Ice Age and Rio due to the Covid-19 pandemic's impact on the entertainment industry, the company said on Tuesday.
Disney had acquired the Greenwich, Connecticut-based studio in 2019 when it bought 21st Century Fox Inc in a $71 billion deal.
“Given the current economic realities, after much consideration and evaluation, we have made the difficult decision to close filmmaking operations at Blue Sky Studios,” a studio spokesperson said in a statement.
Disney's business has suffered due to the health crisis as it was forced to keep most of its theme parks and movie studios closed last year.
