logo
Disney to Cut Nearly 200 Jobs Across News and Entertainment, ABC News Hit Hard

Disney to Cut Nearly 200 Jobs Across News and Entertainment, ABC News Hit Hard

Yahoo05-03-2025
ABC News Group and Disney Entertainment Networks are laying off just under 200 employees, or roughly 6% of staff, across news and entertainment starting on Wednesday, TheWrap has learned.
A majority of these cuts come from ABC News, where its employees are largely based in New York.
In line with the changes, ABC News Studios, '20/20,' 'Nightline' and 'Impact x Nightline' now fall under one leadership structure. ABC News' digital editorial and social teams are similarly now integrated within the news gathering, shows and owned stations units.
Additionally, the 'Good Morning America'-branded shows have been consolidated into one under Simone Swink, while Seni Tienabeso was named VP of ABC News Live.
TheWrap has reached out to Disney and ABC News for comment.
The ABC News layoffs are just the latest in a rocky start for media jobs in 2025. Scripps also underwent cuts this week, while Indiewire let go of three top editors last month, Forbes cut 5% of its staff in late January and Vox was recently hit by its third round of reductions in just two months. The Washington Post and the Huffington Post also let go of employees last month.
In October, Disney laid off about 75 employees from ABC News and its eight ABC Owned Television Stations in another effort to cut costs.
Oliver Darcy's Status newsletter was first to report the cuts were taking place this week.
The post Disney to Cut Nearly 200 Jobs Across News and Entertainment, ABC News Hit Hard appeared first on TheWrap.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Apple Offers as Much as $150 Million for Formula One U.S. Rights
Apple Offers as Much as $150 Million for Formula One U.S. Rights

Wall Street Journal

time6 hours ago

  • Wall Street Journal

Apple Offers as Much as $150 Million for Formula One U.S. Rights

Apple AAPL -0.59%decrease; red down pointing triangle has offered Formula One as much as $150 million a year for the U.S. rights to air its races and is the top contender to secure a deal, according to people familiar with the matter. The bid puts F1—which Liberty Media purchased in 2017—on track for a significantly more lucrative deal than it has with its current partner, Disney's DIS -1.39%decrease; red down pointing triangle ESPN.

Is Netflix Stock Your Ticket to Becoming a Millionaire?
Is Netflix Stock Your Ticket to Becoming a Millionaire?

Yahoo

time16 hours ago

  • Yahoo

Is Netflix Stock Your Ticket to Becoming a Millionaire?

With more than 300 million subscribers worldwide, Netflix cemented itself as a streaming leader. The business reached impressive scale that allows it to produce sizable profits. Netflix stock has been a monster winner, but the current setup isn't favorable for new investors. 10 stocks we like better than Netflix › From shipping DVDs by mail to becoming a worldwide entertainment juggernaut, the rise of Netflix (NASDAQ: NFLX) is worth studying. The business is a disruptive and innovative category creator. It has taken care of investors, with shares soaring 54,700% in the past two decades. This means that had you invested just $1,900 in this streaming stock in July 2005, you'd have $1 million today. But is Netflix your ticket to becoming a millionaire one day in the future? At the end of 2024, Netflix counted a whopping 302 million subscribers. That figure was up 81% from the 167 million reported at the end of 2019. Despite a global pandemic, supply chain bottlenecks, inflationary pressures, higher interest rates, and ongoing geopolitical and macro uncertainty, the business found tremendous success. This momentum continued into 2025, with first-quarter revenue increasing 12.5% year over year. To keep growing, Netflix is expanding further into international markets, such as Asia and Africa. In the U.S. and Canada, more mature markets where the opportunity isn't so big anymore, the business leaned on occasional price increases to keep the ball rolling. What's more, management is doing things that it previously shunned. Netflix introduced a successful ad-based subscription tier to attract price-sensitive consumers. It also put a stop to accounts that were sharing passwords. Netflix is even stepping into live sports. These pivots showcase strategic nimbleness. The company's profitability is worth focusing on. After posting a stellar operating margin of 27% in 2024, the executive team predicts that Netflix will report a 29% margin this year. This highlights the scalability of the business model. Higher revenue leads to an improving bottom line, as Netflix's main expenses aren't growing at the same rate as the top line. Looking at the rest of the streaming industry, it's clear that Netflix stands out. The company's biggest rival, Disney, forecasts a 10% operating margin for its Entertainment streaming segment (Disney+ and Hulu) in fiscal 2026. Netflix achieved this figure in 2018. It's well ahead in streaming, giving it the financial resources to invest in bolstering its content offerings. This business has become a dominant force in the media and entertainment landscape. It deserves credit for disrupting the legacy cable networks by leaning on expanding broadband internet penetration and its technology prowess to provide a better service to viewers. But the market is fully aware of Netflix's investment merits. As a result, expectations are high, as investors view the business in a very favorable light. This is clear when looking at Netflix's valuation. Shares trade at a price-to-earnings (P/E) ratio of 60.5. That's not cheap at all. In fact, it's more than double the multiple of the overall S&P 500 index. To be fair, though, I believe it's totally reasonable for the business to register double-digit earnings per share (EPS) growth on an annual basis for the foreseeable future. Wall Street agrees, as analyst consensus estimates call for EPS to increase at a compound annual rate of 23.6% between 2024 and 2027. The prediction for Netflix's bottom-line trajectory is impressive. However, I don't think it automatically makes the stock a smart buy. The valuation is too steep, creating a headwind for prospective investors. Don't be surprised if the P/E ratio is lower five years from now. This means that Netflix likely isn't going to make you a millionaire. While the stock was undoubtedly able to generate monster wealth in the past for its longtime shareholders, the opportunity to achieve incredible returns going forward is limited. Before you buy stock in Netflix, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Netflix wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $694,758!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $998,376!* Now, it's worth noting Stock Advisor's total average return is 1,058% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of July 7, 2025 Neil Patel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Netflix and Walt Disney. The Motley Fool has a disclosure policy. Is Netflix Stock Your Ticket to Becoming a Millionaire? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store