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ESPN Sports Network is owned by The Walt Disney Company, as many of you know. They are planning on eliminating 350 positions. They currently employ about 8,000 people around the globe. Disney has the 2nd biggest stake in sports programming with $44.2 billion. They are saying rising costs and not enough viewers are the reasons for the huge layoff. The cuts have not yet been announced, but they will be very soon.
The Walt Disney Co recently announced that August earnings at the cable networks will not meet what they projected. They have lost 4 million subscribers in just 4 years. Bob Iger recently described the subscriber loss as “moderate”. Their losses might have something do with the fact that they have one of the highest priced subscriptions. They tried to change on air personalities but that did not help the bottom line either.
In October of last year Disney and Time Warner signed a 9 year programming deal.
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