Throughout the day Friday, the news of ESPN reducing its talent roster has been a staunch reminder of the transitioning state of sports media. With more consumers cutting the cord and consuming digital forms of media, the network is reallocating its resources and positioning itself for sustained growth. Layoffs were initially ordered by The Walt Disney Company’s chief executive officer Bob Iger, slashing 7,000 jobs across the parent company to eliminate $5.5 billion in costs. ESPN, however, decided to go forward with an additional round of layoffs affecting talent, reportedly in order to retain behind-the-scenes staffers and improve its balance sheet.
ESPN is expected to report its own financial data for the first time since November, as it is now considered a distinct entity under the reorganization of The Walt Disney Company. Additionally, it is reportedly in the midst of planning its direct-to-consumer service under the code “Project Flagship,” expected to launch in 2025 or 2026.
As news of the talent layoffs became public, colleagues and sports media professionals took to Twitter to express their dismay towards the situation and wish the departing on-air talent well:
