The Walt Disney Company last night announced plans to scrap its Internet portal GO.com in a bid to boost competitiveness and profitability.
The closure of GO.com will mean the elimination of 400 jobs and second-quarter charges and costs that could reach as much as $840m, the company said in a statement.
The GO.com Web site offers Internet access and services, such as e-mail, as well as entertainment and recreation content.
Disney said its Internet group would continue to operate its other sites, namely Disney.com, ESPN.com, NFL.com, Soccernet.com, ABC.com, ABCNEWS.com, ABCsports.com, Mr. Showbiz, Movies.com and Wall of Sound.
The company added that it planned to more closely align its continuing sites to its traditional media and entertainment activities.
