Despite president Stephen Espinoza fending off rumors several weeks ago about closing down operations, Paramount Global on Tuesday announced that Showtime Sports will be signing off at the end of the year.
The move comes as several media companies in recent months have had to downsize or make tough decisions on sports coverage.
For boxing fans this means that one of the TV institutions for the sport, Showtime Boxing, is going away.
Boxing writer Dan Rafael on Substack reported that 38 full-time jobs, including Espinoza’s, are being eliminated as a result.
In a memo to staff informing them of the news, Espinoza wrote how proud he was of all the work they had done over the years.
“From Emmy Award-winning documentaries to the three highest-grossing pay-per-view events in television history, I am extremely proud of our content and our events — but I am far more proud of our people,” Espinoza wrote. “Your diligence, dedication and passion have inspired me every day, and it is those qualities that will be the enduring legacy of Showtime Sports.”
Rafael on Twitter Tuesday said the timing of the announcement was eerily similar to how things shook out when HBO left the boxing space.
But ultimately, while news of the end of Showtime Sports is sad, Rafael said the writing was on the wall. His heart went out to those affected.
Dan also wanted to make sure that those who were taking joy in the announcement know that there’s no joy in something that affects people’s livelihoods.
