CNN reports that media companies WarnerMedia and Discovery will be joining the cavalcade of business leaving Russia, the two announced today that they would both be stopping all operations in the country. Russia invaded Ukraine in late February and since then has been bombarding the country’s capital and other residential areas.
As mentioned, multiple different businesses such as Disney, McDonald’s, Netflix, and Coca-Cola have already begun this corporate exodus from the country. These businesses condemn the Russian President, Vladimir Putin, and have joined the humanitarian effort in a multitude of ways to help the citizens of Ukraine.
Before this announcement, WarnerMedia had already withheld their newest movie, The Batman, from releasing in Russian theaters. This announcement now confirms that no new business shall be conducted in the country, and all WarnerMedia owned channels will cease to be broadcasted there.
“We are following this situation closely and future business decisions will be made with that context in mind. Our thoughts in this moment are with the people of Ukraine,” WarnerMedia CEO Jason Kilar announced in a memo obtained by Variety.
Discovery, which has 15 channels in the region, will also cease to broadcast its programs to the Russian people in the act of protest. Discovery following WarnerMedia’s lead is no surprise as the two companies are planning a merger this Spring.
Most companies pulling out will not be affected too primarily by this departure. At an investor meeting, Disney CFO Christine McCarthy spoke about how Russia only represents 2% of the media giant’s operating income. McCarthy made it apparent that this withdrawal was more of a show of support for the Ukrainian people for all companies involved.
The only part of WarnerMedia that will continue to air in Russia is CNN. Still, the company made it apparent that they will cease broadcasting within Russia due to a new law that can punish journalists for producing “false information” about Russia’s military.