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ESPN Expected To Cut 350 Jobs On Wednesday

Jason Barrett

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Walt Disney Co.’s ESPN sports network, confronting rising programming costs and a loss of viewers, plans to eliminate as many as 350 positions, about 4.3 percent of its workforce, according to people with knowledge of the matter.

The cuts will be announced to employees as early as Wednesday, said the people, who asked not to be identified discussing the matter because it isn’t public.

The action follows Disney’s announcement in August that earnings at its cable networks won’t meet company forecasts as a result of subscriber losses and currency translation. That triggered a selloff in the shares of many media companies. Disney had the second-largest long-term commitment to sports programming at $44.2 billion behind only 21st Century Fox Inc., according to Bloomberg Intelligence. That was before signing a long-term agreement with the NBA.

 An ESPN spokesman declined to comment. The sports broadcaster, based in Bristol, Connecticut, employs 8,000 people worldwide, according to a company fact sheet.

“ESPN has historically embraced evolving technology to smartly navigate our business,” the company said in a statement last month when plans for job cuts were reported by thebiglead.com. “Any organizational changes will be announced directly to our employees if and when appropriate.”

The network, which commands the highest price per customer among basic cable channels, has lost more than 4 million subscribers in the past four years, according to researcher SNL Kagan.

Credit to Bloomberg who broke the story and originally published this article

Sports TV News

Netflix CEO: ‘We’re Not Anti-Sports, We’re Just Pro-Profit’

“He characterized expensive media rights as a “loss leader” in the streaming world and noted that Netflix doesn’t view sports as a necessity to grow.”

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Netflix will not join Apple and Amazon in the rush to gobble up live sports rights. Co-CEO Ted Sarandos addressed the streaming giant’s disinterest at the UBS Global Technology, Media & Telecom Conference on Wednesday.

He characterized expensive media rights as a “loss leader” in the streaming world and noted that Netflix doesn’t view sports as a necessity to grow.

“We’re not anti-sports,” Sarandos said according to Deadline. “We’re just pro-profit. We have yet to figure out how to do it. But I’m very confident we can get twice as big as we are without sports.” 

Questions about the interest the company has in carrying live sports have come up several times in the past. Sarandon made similar comments last year when asked about it.

Reed Hastings, Sarandos’s co-CEO at Netflix, has a slightly different view. In 2021, he indicated that Netflix could be interested in F1 rights someday thanks to the success of its documentary series Drive to Survive, but that would be a special case. Any league interested in doing business with Netflix, he said, would have to allow Netflix to control all of its content.

Ted Sarandos echoed that sentiment in his most recent comments. He said that the company does not see a way to profit by “renting big-league sports.”

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Sports TV News

FOX Sued for Patent Infringement Over NFL Scheduling

“Recentive Analytics filed suit against FOX in a Delaware federal court on November 29 according to Yahoo Sports.”

Jordan Bondurant

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An analytics company is suing FOX over claims that the network developed a mapping tool using their patented technology to create a season slate of NFL games.

Recentive Analytics filed suit against FOX in a Delaware federal court on November 29 according to Yahoo Sports.

The lawsuit claims FOX used access to Recentive’s predictive analytics tools to develop a resource of their own that would create optimal schedules for its 1 and 4 p.m. NFLwindows.

The company is seeking a declaration that FOX infringed on two of its patents. Recentive is also suing for damages and wants an injunction keeping FOX from using Recentive tech and preventing the network from “selling, offering for sale, marketing or using any internal network and mapping analytics tool for the scheduling and regionalization of events covered by the patents.”

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Sports TV News

FOX Will Use Chris Fallica On Belmont Stakes Coverage

“While the Preakness and the Kentucky Derby remain at NBC, The Belmont Stakes is moving to FOX as part of the network’s deal with the New York Racing Association.”

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The Bear will be more than just a college football presence when he moves to FOX. Chris Fallica wrapped his final duties for ESPN last week and is now headed to a new network and will tackle some new responsibilities.

Fallica’s new role at FOX will involve plenty of sports gambling content. Richard Deitsch of The Athletic reports that content will include horse racing.

“One Fox Sports source said look for him to appear on the Belmont Stakes coverage,” Deitsch wrote in his weekly media column.

Starting in 2023, horse racing’s Triple Crown will not be seen all in one place. While the Preakness and the Kentucky Derby remain at NBC, The Belmont Stakes is moving to FOX as part of the network’s deal with the New York Racing Association.

How the network intends to use Chris Fallica on the broadcast is not clear. Given that he is coming to the network to contribute to gambling conversations, it is likely he would either be making picks or at least reviewing odds right up to the start of the race.

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