Disney Announces Layoffs and Consolidation at ABC News Amid Industry Challenges
Disney cuts nearly 6% of staff at ABC News and Disney Entertainment Networks, closing news brand 538 and merging several programs due to streaming competition.
BREAKING: Disney to shutter ABC News polling site 538 amid layoffs
The Post Millennial
Layoffs hit ABC News and Disney's entertainment TV channels
Los Angeles Times
Overview
Disney is laying off approximately 200 employees, or nearly 6% of its ABC News and Disney Entertainment Networks workforce, primarily impacting ABC News in New York. The layoffs include shutting down the polling website 538 and merging programs like ‘20/20’ and ‘Nightline’ under new consolidated leadership. This decision comes as ABC News responds to declining traditional TV ratings and revenues, following previous job cuts last fall. The company aims to streamline operations and is investing in its streaming service, ABC News Live, to attract younger audiences.
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The Hill·4M·FAQ
Disney is laying off employees due to the decline in traditional TV viewership as audiences shift towards streaming platforms, necessitating a restructuring to remain competitive.
The layoffs reflect the industry's shift towards streaming and digital content, as traditional TV viewership declines. This trend forces media companies to adapt by integrating digital operations and reducing redundancy to remain competitive.
Despite the layoffs, Disney reported a significant financial gain, with a 44% increase in adjusted per-share earnings in Q4 2024. This indicates that while certain sectors face challenges, the company remains financially robust overall.
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