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Home / Business / Disney's program is "widespread", affecting both Disney and Fox Studios – Report

Disney's program is "widespread", affecting both Disney and Fox Studios – Report



When Disney announced that the agreement to buy the majority of Fox's entertainment entertainment $ 71 billion was closed, CEO Robert Iger said in a note that it would be an "integration process". Some media reports say that thousands of jobs will be lost as part of this.

According to The Hollywood Reporter, the last round of layoffs came this week. The work cuts are described as "widespread" and affect Disney studios. There is no word on how many employees were hit by the cuts, which allegedly affected Disney and the Fox studios.

Officially, Disney has not commented.

The new cut-off route comes next to the news that Disney is likely to pay around $ 9 billion to buy Comcast's stake in video streaming site Hulu. Disney already owned two-thirds of Hulu, and Disney now buys the remaining portion to assume total ownership.

THR points out that Disney has a number of financial expenses ahead of it, including further investments in content and programming for its Netflix rival Disney +. Not only that, but Disney has reportedly spent around $ 24 billion over the next five years to upgrade its amusement parks and cruise lines.

On September 30, Walt Disney Company had reported over 201

,000 employees, and this was before the Fox deal ended.

As part of Disisys acquisition of the majority of Fox's assets, it will be Deadpool, X-Men, The Simpsons, Family Guy and many others, as well as numerous television networks and movie studios. It's one of the biggest mergers in the entertainment industry's history.

Shortly after the Disney agreement to buy Fox closed, Fox 2000 joined the company.

Fox will live on in limited capacity, with a new company – Fox Corporation – operating units like Fox News Channel, Fox Sports and other TV networks.


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