Fake News Networks CNN, ABC, NBC Looking at Staff Lay Offs

Fake TV News networks are laying off before the holidays. Fake news doesn’t sell as well as it used to – the cash has dried up. Hollywood Reporter said a few months ago, Disney’s ex-CEO [Bob] Iger stated “linear TV and satellite is marching toward a great precipice and it will be pushed off.”

The audience for the midterms was 30% lower than in 2018 and the second lowest since 2002 at 25.4 million viewers.

New boss at CNN, Chris Licht, confirms the network will see layoffs as early as December. ABC News warns of staff cuts, and NBCUniversal went on a firing spree, Daily Mail reports.

On Tuesday, CNN boss Chris Licht confirmed that the network would face layoffs at an all-hands company town hall.

Licht did not apologize for stating in the summer that they would not be forced to fire people but said he was speaking honestly at the time.

Licht has overseen the shutdown of CNN+ in 2022 and a purge of company veterans such as Brian Stelter, Jeffrey Toobin, and John Harwood.

NBC, ABC, CBS ALSO LOOKING TO DOWNSIZE

NBCUniversal, ABC News, and CBS News are also forced to squeeze their budgets.

At CBS News parent Paramount, executives are signaling that they are pursuing a similar strategy. “I do think that there’s a potential for a restructuring charge in Q4,” Paramount CFO Naveen Chopra said on the company’s Q3 earnings call Nov. 2.

And at NBCUniversal, the company has offered early retirement packages to employees with 10 years of service who are age 57 or older, including employees at the NBC News Group. If that doesn’t downsize enough, they might start cutting people.

At Disney, CEO Bob Chapek sent a memo to division leaders Nov. 11 outlining a hiring freeze, canceling all travel not deemed “essential” and a new “cost structure task force” that will pursue “organizational enhancements.”

“We do anticipate some staff reductions as part of this review,” Chapek warned, adding that some decisions would be “tough and uncomfortable.”

Maybe if they were honest in reporting they’d do better.

Disney owns ABC and ABC News President Kim Goodwin said the network would be affected by changes that include staff cuts

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