Walt Disney will convert all Disney Internet Group into conventional Disney stock as the Mouse House abandons its Go.com portal strategy and maintains only individual Web sites for its various media and entertainment properties.
Some 400 pinkslips will fly, the Burbank-based conglom said.
"The Internet continues to be a central focus of our company's business strategy," chairman and CEP Michael Eisner said. "We believe this action should help us gain greater competitive advantage as we leverage Disney's creative content, brands and other assets."
Said DIG chairman Steve Bornstein: "This is a difficult decision, as it impacts both our employees and Go.com users. However, the Internet environment has cotninued to shift and change, and therefore, our strategies must also change."
Continuing Web sites operated by various Disney businesses included Disney.com, ESPN.com, ABC.com and others.
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