ESPN LETTING GO UP TO 350 EMPLOYEES IN CURRENT ROUND OF LAYOFFS

[link to awfulannouncing.com]

One of the biggest storylines of the year in sports media is the Bristol Squeeze. ESPN is faced with a budget crisis with the walls closing in on both sides. On one side, exponentially increasing rights fees continue to increase the demand on money going out. On the other, the continued trend of cord cutting and people unsubscribing from cable/satellite channels has a negative effect on money coming in. The trouble affecting ESPN’s bottom line is certainly the most significant turbulence that has faced the self-proclaimed worldwide leader in sports in a good number of years.