Entertainment

Hundreds of employees quit amid cord cuts – The Hollywood Reporter

DirecTV will lay off about 10% of its management staff as the company faces a growing consumer shift away from pay-line television.

The layoffs will affect hundreds of employees who work in management, as well as several other employees. Employees were notified of the decision late last week.

“The pay TV industry as a whole is affected by the long-term decline and increasing rates of security and program distribution. We are adjusting our operating costs to accommodate these changes and will continue to invest in new entertainment products and service improvements,” a DirecTV spokesperson said.

The satellite TV business is under increasing pressure as more and more consumers are choosing to cut the cord to switch to streaming services. And DirecTV recently lost the rights to one of its biggest draws, the NFL’s “Sunday Ticket,” after their contract ended with the 2022 season and YouTube acquired the rights to the games. Out-of-market Sundays starting with the 2023 season.

DirecTV became an independent private company in August 2021, after AT&T spun it off with a directive to focus on video. DirecTV has a streaming business, under the DirecTV Stream brand, as well as a traditional satellite business.

The company is also subject to a possible merger with fellow satellite TV provider, Dish Network. After calling a merger “inevitable” over the past few quarters, Dish Network president Charlie Ergen said in November that if it happens, he believes it will happen “in the short term.” “. The two companies had previously attempted to merge in 2002, but were blocked by federal regulators.




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