Sony Pictures CEO Tony Vinciquerra speaks onstage during CinemaCon 2021 at The Colosseum at Caesars Palace in Las Vegas on Aug. 23, 2021. (Photo by David Becker/Getty Images for CinemaCon)
Sony Pictures is severing business ties with Russia, "in support of the humanitarian efforts currently underway in Ukraine,” according to a staff memo from CEO Tony Vinciquerra.
Why it matters: The news comes a day after Disney announced it would "pause" all business in the country, as well.
- Sony previously said it would hold off on its theatrical release of "Morbius" in the country. It now says it's also suspended streaming titles, including the blockage of popular releases such as "Spider-Man: No Way Home."
- Sony's chairman also announced the suspension of anime streaming service Crunchyroll in Russia.
- The company won't engage in any future television distribution deals in the country, per the memo.
The big picture: Hollywood is forgoing international box office revenue at a time when the industry is still digging out from the pandemic. Other studios like Netflix, Paramount and WarnerMedia have also halted all operations in the Russia or suspended film releases.
Go deeper: Disney pausing all business in Russia