Disney tumbles as 'Roseanne' canceled, 'Solo' flops

ABC cancels ‘Roseanne’ after star’s controversial tweets

Fox News contributor Herman Cain on ABC canceling “Roseanne

The Walt Disney Co.’s week got off to a rough start as shares fell after a disappointing box office debut for “Solo: A Star Wars Story” and the abrupt cancellation of ABC’s top-rated sitcom “Roseanne” following a racist comment from series star Roseanne Barr.

Continue Reading Below

ABC executives canceled the program, which had been one of the network’s most successful sitcoms, after Barr made a racist remark on her Twitter account about former White House senior adviser Valerie Jarrett. Barr initially played down the comment as a “joke,” but later apologized.

“There was only one thing to do here, and that was the right thing,” Disney CEO Bob Iger wrote on Twitter.

“Solo,” a standalone movie about the iconic “Star Wars” character, opened to lukewarm critical reviews and a box office haul of an estimated $103 million through Memorial Day weekend. That amount was below projections of $130 million to $150 million, according to the Guardian.

TickerSecurityLastChange%Chg
DISWALT DISNEY COMPANY115.25+0.96+0.84%

Disney shares recovered on Wednesday after falling nearly 3% in trading Tuesday, outpacing the Dow Jones Industrial Average, which fell about 2%, and the S&P 500, which dropped about 1.5%.

Disney’s studio film division has been highly successful in recent months with the success of Marvel’s “Black Panther” and “Avengers: Infinity War.” The company is in the midst of closing a $52.4 billion acquisition of some 21st Century Fox film and television assets, though Comcast is said to be preparing a rival bid.

What do you think?

Click the button below to comment on this article.