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LA Times: Disney likely to fire 3,000 in Fox combination

Mar. 21, 2019 12:45 AM ETDIS, FOXA, FOXBy: Jason Aycock, SA News Editor34 Comments
  • The champagne corks have popped, and now it's time for cleanup: With Disney's (NYSE:DIS) takeover of Fox media (FOX, FOXA) complete, redundancies in their studio operations mean that the company will likely fire more than 3,000 people, the Los Angeles Times reports.
  • Most of those firings will come from the Fox side, according to the report.
  • Those layoffs could start as soon as this week, though most might not happen for months.
  • “I wish I could tell you that the hardest part is behind us; that closing the deal was the finish line, rather than just the next milestone,” Disney CEO Bob Iger said in a welcome email to Fox employees.
  • Disney closed on its $71.3B deal early yesterday morning, taking over Fox's film and TV studio operations along with FX Networks and National Geographic, Star India, and Fox's share of Hulu.

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