Walt Disney plans to eliminate 13% of jobs at NatGeo: Report
Walt Disney has laid off 7,000 staff since CEO Bob Iger was brought back in 2022. The company has trimmed costs to invest in the streaming business
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Walt Disney has plans to eliminate 2% of jobs in its TV unit and about 13% of jobs at NatGeo, which is among its worst-hit units, Bloomberg news agency reported.
The report added that the Mouse House will cut about 140 job roles at Disney Entertainment Television as a cost-cutting measure. Storyboard18 could not independently verify the report.
The company has laid off 7,000 staff since CEO Bob Iger was brought back in 2022. The company has trimmed costs to invest in the streaming business as consumers transition away from cable networks.
Separately, Walt Disney, Fox, and WarnerNros Discovery's sports streaming joint venture will be priced at $42.99 per month with a seven-day free trial, Reuters news agency reported.
Venu Sports, the JV, has streaming rights to the National Football League, the National Basketball Association, and the FIFA World Cup.
Led by former Apple executive Pete Distad, the joint venture is aiming for 5 million subscribers in the first five years following its launch in the United States this fall.
As per the news agency, it will provide access to 14 live sports channels and on-demand content from the collective companies' portfolios of sports networks and ESPN+
