ESPN to Initiate Layoffs Next Week

ESPN will initiate layoffs next week as part of parent company Disey’s cost-cutting efforts and will impact some on-air talent and management. This will mark the second round of layoffs as the entertainment giant eliminates 7,000 jobs across its divisions. The number of layoffs at ESPN has not been disclosed, however. The sports channel is seeking to renew a contract with the National Basketball Association and is expected to pay a premium on the $1.4 billion per year rights fee it already pays the basketball league. ESPN will release its financials as its own division for the first time this year following a reorganization across the company.