Financial documents filed with the SEC last month show that Disney has scaled back its Internet operations, has closed 51 under-performing Disney Stores, and has plans to close more stores. Disney owns Internet Web sites and products including ABC.com, ABCNEWS.com, Enhanced TV, ABCSports.com, ESPN.com, Disney.com, Family.com and Movies.com. Disney closed its Go.com portal and converted all of its outstanding Internet Group common stock into Disney common stock in March 2001. It no longer reports separate results for the Internet Group.
During fiscal 2001, Disney opened 2 new stores in Europe and closed 51 stores worldwide. The total number of stores was 693 as of September 30, 2001. The Company is in the process of closing approximately 49 additional stores.
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