Disney closes Internet portal
Walt Disney Corporation will close its online portal go.com and lay off 400 employees. This decision comes almost exactly one year later, after Walt Disney announced a restructuring of Go.com.
The then general portal could not keep up with its competitors Yahoo or Lycos. The entertainment group wanted to convert the site into a games portal for the areas of relaxation, leisure and entertainment, but this did not succeed. The losses were apparently so high that Disney now had to pull the emergency brake. The remaining employees of Disney's Internet Group should now concentrate on the more successful offerings such as the sports network ESPN and the news site abcnews.com.