OT - ESPN Layoffs

[Bonehead]

http://money.cnn.com/2015/10/20/media/espn-layoffs/index.html

Regardless of your disdain of ESPN these might affect many locals.
They have a ton of useless TV talent and I hope those are the cuts...

An ESPN representative declined to comment on Tuesday evening. Earlier in the day Bloomberg News reported that up to 350 employees, or 4.3% of its 8,000 positions, will be affected.

 

[Palatine]

I hope they start with anyone named Mike.

 

[31GuardTrap]

I hope they start with anyone named Mike.

They won't and they also won't layoff any of their other so-called big names.
Most of not all of these positions are probably not even currently filled so a lot of this is BS. Makes it seem worse than it really is.

 

[Chin Diesel]

They won't and they also won't layoff any of their other so-called big names.
Most of not all of these positions are probably not even currently filled so a lot of this is BS. Makes it seem worse than it really is.

Well, the culled Cowherd from the Herd this summer, send Simmons on his way and killed off the Whitlock project.

I wouldn't bet $.01 on any particular name, but you will some trimming from the top. Most likely in the form of non-renewals for them vice actual layoffs.

 

[uconnphil2016]

Maybe they're releasing Mike Ditka after his on-air fart

 

[gioff23]

Rut roh, has da guvnuh asked for his check back?

 

[epark88]

First, Disney asks ESPN to cull $100m this year. Check.
Next, they want $250m lopped off next year. Gotcha.
And now they're announcing layoffs. 350+ jobs soon to be gone.

Yup, the 'talking points' for their impending negotiating battle with the B1G next year are all falling nicely into place...

 

[SubbaBub]

Well, the culled Cowherd from the Herd this summer, send Simmons on his way and killed off the Whitlock project.

I wouldn't bet $.01 on any particular name, but you will some trimming from the top. Most likely in the form of non-renewals for them vice actual layoffs.

All the talent have contracts, they won't be laid off. Layoffs are for wage workers. Most likely production people for TV/website. But as has been said, most are probably unfilled positions or attrition. Maybe 100 tops get pink slips.

 

[J187Money]

Well, the culled Cowherd from the Herd this summer, send Simmons on his way and killed off the Whitlock project. I wouldn't bet $.01 on any particular name, but you will some trimming from the top. Most likely in the form of non-renewals for them vice actual layoffs.

The Cowherd thing wasn't money.

 

[J187Money]

They won't and they also won't layoff any of their other so-called big names. Most of not all of these positions are probably not even currently filled so a lot of this is BS. Makes it seem worse than it really is.

It is real people. Not talent that the general public is familiar with but there are a lot of heavy salaries that will go.

 

[huskymedic]

ESPN Cuts Around 300 Employees Across All Areas; Production, Tech Groups Hit Hardest
By John Ourand, Staff Writer
Published October 22, 2015

ESPN layoffs continue today and tomorrow, as the sports network trims around 300 of its employees. Cuts are affecting every part of ESPN’s business, with the production and technology groups getting hit the hardest, sources said. One longtime employee described the atmosphere in Bristol as the worst he has ever seen -- two-thirds of the company’s layoffs come from ESPN’s main HQ. Names of the layoffs have been slow to trickle out. Jim Miller, the co-author of the '11 book detailing the rise of ESPN, remarked on Twitter that 30-50-year-old men were most affected. He tweeted: “Not a good week to be a middle aged white guy. #espnlayoffs.” Many of the names included people who have been with the company for decades. Among the more recognizable execs were the highly respected Matt Murphy, who ESPN hired '93. Murphy, who was Senior VP/Digital Video Distribution, appeared regularly on industry panels and was quoted frequently in various news outlets. Another well-liked affiliate exec, John Porio, also was given his notice yesterday. Porio, who was VP/National Accounts, Affiliate Sales & Marketing, had been with ESPN since '97 and was a big part of the net's enormous growth. The production department saw heavy losses of people who have spent most of their careers in Bristol, including Senior Coordinating Producer Dave Miller -- a universally respected producer who has been an ESPN employee since its first year. Another well liked production exec, coordinating producer Gus Ramsey, said he was laid off after 21 years in a personal blog post. Baseball writer Peter Gammons said via Twitter that Ramsey was “one of the best people with whom I ever worked.” ESPN Radio 710 L.A. Program Dir Mike Thompson told a sports media blog that he was laid off “after a wonderful 12 years with the Walt Disney Company.”

DIFFICULT SITUATION: In a memo sent to employees yesterday morning, ESPN President John Skipper said the affected employees would get “a minimum of 60 days notice, a severance package reflective of their years of service and outplacement benefits to help them find future employment.” Skipper: “I realize this process will be difficult -- for everyone -- but we believe the steps we are taking will ultimately create important competitive advantages for our business over the long term.”

 

[J187Money]

Ugly. Cord cutting is bad. And the upside for us is that the TV money that the P5 thinks will never end isn't going to be there forever. Next round of packages may very well be down.

 

[Letsgohuskies11]

makes sense, people are opting out of cable packages and those wanting to watch games can find a site to stream or go to the bar. Plus ESPN has become pretty unwatchable with their over the top metaphors and culture references trying to seem cool

 

[whaler11]

Ugly. Cord cutting is bad. And the upside for us is that the TV money that the P5 thinks will never end isn't going to be there forever. Next round of packages may very well be down.

Doesn't seem like there is any 'may' about it. The Big Ten might get through this round but I bet they don't get as much as has been projected.

 

[Colt house75]

Doesn't seem like there is any 'may' about it. The Big Ten might get through this round but I bet they don't get as much as has been projected.

AGREE WITH YOU ON THE ABOVE.....
Will be interesting to watch if the other media outlets, i.e. CBS etal and NBC etal effectively cut packages. Will also be interesting to see if there is any "discussion" about an 8 team playoff from the current 4 team. Have seen reports that playoff expansion (and we all have discussed many times the effect on the schools, existing bowls etc) is reportedly worth an additional $750,000,000 to $1BN revenue generated. With cost cutting being implemented, would not be surprised as to discussions surrounding top line gross revenue improvement.

 

[sdhusky]

Doesn't seem like there is any 'may' about it. The Big Ten might get through this round but I bet they don't get as much as has been projected.

Do you think the money is going away?

I don't. It just will be redistributed. But it will take some time for the numbers to work out again.

 

[noeynox]

Ugly. Cord cutting is bad. And the upside for us is that the TV money that the P5 thinks will never end isn't going to be there forever. Next round of packages may very well be down.

With the technology available today, those of us that continue to pay for cable really are sort of jackasses. I do it because I'm unwilling to compromise on picture quality because if you have an HD tv, I want an HD picture.

Fact of the matter is that,if you have an Internet connection, you can stream anything on TV today for free. Most millenials are doing this, I watch some stuff that way. The internet cannot be stopped, and if nothing else will cause these cable companies and Direct TV to become more reasonable in their pricing.

 

[whaler11]

Do you think the money is going away?

I don't. It just will be redistributed. But it will take some time for the numbers to work out again.

The money is going to go down.

The money is so high because 80 million people pay $7 a month for ESPN and don't watch. You can't monetize the remaining 20% at a high enough level to make up the billions of dollars from the subsidizing group.

Each individual conference and school may end up better or worse - but the total rake is going to go down long term.

 

[intlzncster]

Maybe they're releasing Mike Ditka after his on-air fart

Are you kidding? That was actually entertaining! We need more Ditka, not less.

 

[intlzncster]

AGREE WITH YOU ON THE ABOVE.....
Will be interesting to watch if the other media outlets, i.e. CBS etal and NBC etal effectively cut packages. Will also be interesting to see if there is any "discussion" about an 8 team playoff from the current 4 team. Have seen reports that playoff expansion (and we all have discussed many times the effect on the schools, existing bowls etc) is reportedly worth an additional $750,000,000 to $1BN revenue generated. With cost cutting being implemented, would not be surprised as to discussions surrounding top line gross revenue improvement.

I wouldn't be shocked to see the Networks keep their deals richer than ESPN. Good way to steal some of that content back.

 

[J187Money]

Doesn't seem like there is any 'may' about it. The Big Ten might get through this round but I bet they don't get as much as has been projected.

Trophy assets are trophy assets. Someone else may want to overpay to attack. Happens even when it shouldn't.

 

[sdhusky]

The money is going to go down.

The money is so high because 80 million people pay $7 a month for ESPN and don't watch. You can't monetize the remaining 20% at a high enough level to make up the billions of dollars from the subsidizing group.

Each individual conference and school may end up better or worse - but the total rake is going to go down long term.

I'm just talking college football money, btw.

If we look to the NFL, they seem to be doing fine with cord cutting.

The money and the interest in college football is still there.

 

[whaler11]

I'm just talking college football money, btw.

If we look to the NFL, they seem to be doing fine with cord cutting.

The money and the interest in college football is still there.

The NFL is mostly broadcast over the air and lives in another ratings dimension from college sports.

College sports gets the vast amount of revenue from cable and I think if you are selling a non-premier CFB property you are going to learn some hard lessons the next time you are in a negotiation. The Big Ten will probably do ok in this round. The Big XII or ACC would not want to be selling in this market.

 

[ktuck911]

Corporatocracy at it's best.. even ESPN's not immune.

 

[UConnErik]

While they are at it, maybe they can create a new version of college football final. Cannot watch the 2015 version with Joe T and Joey G....horrible. Lets get Lou, Mark ,and Reese back.