ESPN’s latest round of layoffs could have “no sacred cows,” meaning everybody from top on-air people to big-time executives are being scrutinized with the cuts expected to be finalized in the subsequent four-to-six weeks, The Post has learned.
The moves are a component of layoffs that Disney’s CEO Bob Iger announced were coming across the entire company’s units. Last month, Iger said that 7,000 jobs can be eliminated across the board.
On the direction of ESPN chairman Jimmy Pitaro, heads of departments have been told to scrutinize their divisions to make them as efficient as possible. Presently, there is no such thing as a goal number for the way many thousands and thousands that ESPN must save or what number of employees will likely be let go, based on sources.
ESPN declined comment.
In recent times, ESPN has spent heavily on top commentators, like Troy Aikman ($18 million per 12 months), Joe Buck ($15 million per 12 months) and Stephen A. Smith ($12 million per 12 months) and so they are still in add mode as they’re in on the Pat McAfee sweepstakes, based on sources.
Last week, The Post reported McAfee is exploring moving to a network that might have him step away from FanDuel within the midst of a four-year, $120 million contract. But any McAfee-ESPN deal would need to make financial sense for the network. ESPN is a possibility for McAfee, but probably not the favourite immediately.
Meanwhile, the ESPN belt-tightening is already being felt in negotiations with college football national championship game-caller Chris Fowler. Fowler, who reportedly makes around $3 million per 12 months, and ESPN have been far apart in negotiations, based on sources.
ESPN desires to retain Fowler, perhaps even with a slight raise, as he’s its lead college football and Grand Slam tennis voice, but he shouldn’t be going to receive a big increase to place him anywhere near Buck money.
Probably the most vulnerable on-air folks, based on sources, are those that make near or greater than seven figures and should not considered needle movers. Smith, late-night SportsCenter anchor Scott Van Pelt and the “Monday Night Football” booth are considered the style of “talent” which are untouchable.
Despite cord cutting wherein subscribers are dropping cable, ESPN remains to be a money cow for Disney, which it is anticipated to exhibit when it releases its separate earnings report in November. Previously, ESPN’s numbers were rolled into Disney’s and never broken out, but under the brand new structure Iger recently unveiled, ESPN will show its data to the general public.
ESPN is currently in around 74 million homes, with each household paying within the $10 monthly range, which suggests it still rakes three-quarters of a billion dollars monthly before it sells one commercial. ESPN+, a comparatively latest direct-to-consumer add-on service, has 24.9 million subscribers. It charges $9.99 monthly, but could be bundled with Hulu and Disney+ for a less expensive price.
Iger recently said that it’s “inevitable” that the whole lot of ESPN will go direct-to-consumer. There isn’t a exact date set, based on sources, but it is going to occur in the subsequent few years, if not sooner. ESPN would still be offered on cable and satellite, but its full programming can be available to cord cutters. 12 months to 12 months, ESPN recently reported that its rankings were up 8 percent overall and 14 percent in primetime.
Although ESPN has maintained its place atop sports media and continues to shoot off – not as much because it once did – profits, layoffs have change into an everyday a part of the Bristol experience.
In 2015, ESPN – which had been proof against cuts that had change into a component of media for many years – was hit by 300 layoffs to behind-the-scenes personnel. In 2017, one other 250 people were laid off, including stars like Ron Jaworski, Marc Stein and Trent Dilfer.
Among the people had multi-year contracts and were paid out, but were let go for bookkeeping reasons. Employees with contracts are being scrutinized this time around, as well, based on sources.
In 2020, through the height of the pandemic, ESPN let go 300 employees and selected to not fill 200 positions.
Throughout this time, ESPN has spent big on sports rights, most notably in 2021 for the NFL, which it agreed to pay the league nearly $2.7 billion per season. Its agreement includes two Super Bowls and goes through the 2033 season. It also includes flex scheduling on “Monday Night Football,” starting this 12 months. It followed that up by spending $33 million a 12 months for Buck and Aikman.
Now, though, there may be a directive from the highest of Disney to chop. It is anticipated to occur by the top of April or early May.
Carton and Roberts beat Kay again
ESPN Recent York’s Michael Kay just got an enormous, latest seven-figure contract, but his show continues to be trounced by WFAN’s “Carton & Roberts.” Within the second month of the three-period winter book, Craig Carton and Evan Roberts were third (7.2 share) to “The Michael Kay Show’s” seventeenth (2.1) share amongst 25-54 year-old males, based on Nielsen Audio. Within the mornings, WFAN’s “Boomer & Gio” was No. 1 out there (13.1 share), while ESPN’s “DiPietro & Rothenberg” was tied for eleventh (3.3). In middays, FAN’s “Tiki & Tierney” was fourth (5.4), while ESPN’s combination of hosts were tied for 14th (2.2).
