Liberal ESPN is Financially Struggling & About to Begin Big Layoffs
Sports cable network ESPN is learning exactly what happens when you talk politics on a channel that people visit to AVOID political conversation.
Reports indicate that ESPN is “bleeding cash” and is beginning another round of lay-offs, cutting “tens of millions” from personality’s paychecks.
Reports say that ESPN management is being tasked with cutting “tens of millions” of dollars of staff salary from its payroll, meaning that on-air personalities are on the chopping block, according to Sports Illustrated.
“Today’s fans consume content in many different ways, and we are in a continuous process of adapting to change and improving what we do. Inevitably, that has consequences for how we utilize our talent,” ESPN said in a statement. “We are confident that ESPN will continue to have a roster of talent that is unequaled in sports.”
The network is reportedly set to buyout some contracts, and fire writers and behind the camera staffers. The slashing of staff will likely be completed by June, insiders say.
The news of the massive cuts comes on the heels of reports that ESPN is losing millions per year.
Once a sports powerhouse, ESPN has gone from must-see-TV for millions of sports fans to a financial boondoggle for owner Disney with the network losing up to 10,000 subscribers a day, reports said last month.
“A floundering ESPN, with rising costs and declining viewership, continued to sink Disney’s DIS, +0.24% financial results during its fiscal first quarter,” MarketWatch.com reported.
I’m sad that some people are going to have to be laid off because of the political opinions of others, but we need to stand our ground and let them know that we’re not going to take it. There is a time and a place for political discussion and it’s not during a football game.