Disney-Owned ESPN Announces Major Shakeup
ESPN announced Friday that it will part ways with some of its on-air personalities in a bid to cut costs, with some reports indicating that well-known sports personalities are among those departing the Disney-owned channel.
“Given the current environment, ESPN has determined it necessary to identify some additional cost savings in the area of public-facing commentator salaries, and that process has begun,” ESPN said in a statement. “This exercise will include a small group of job cuts in the short-term and an ongoing focus on managing costs when we negotiate individual contract renewals in the months ahead.”
The company added that the cuts are “an extremely challenging process, involving individuals who have had tremendous impact on our company,” adding, “These difficult decisions, based more on overall efficiency than merit, will help us meet our financial targets and ensure future growth.”…