Interesting, to be sure:
Outside observers say that the numbers don’t add up behind Disney’s decision to take down the shows and claim a $1.5 billion impairment charge. That’s because Disney is claiming two contradictory things: both that the assets were producing so little value that it’s cheaper to destroy them than to keep them and that the assets were worth $1.5 billion.
“I cannot figure out how they can possibly get to $1.5 billion, because they should have almost no unamortized costs” under the 2017 tax bill, said David Offenberg, a professor of entertainment industry finance at Loyola Marymount University.