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When Disney announced the closing of its $ 71 billion purchase of entertainment assets from Fox's majority, CEO Robert Iger said in a memo that "there would be a" integration process ". Some media reports said that "thousands" of jobs would be lost because of this.
According to the Hollywood Reporter, the latest layoffs took place this week. The job cuts are described as "generalized" and affect Disney studios. It is unclear how many staff members were affected by the cuts, which would have affected the Disney and Fox studios.
Officially, Disney has not commented.
The new round of discounts comes in parallel with the announcement that Disney is expected to shell out about $ 9 billion to buy Comcast's stake in the Hulu video streaming site. Disney already owned two-thirds of Hulu and Disney is buying the remaining share to take over the full ownership.
THR notes that Disney has many upcoming expenses, including additional investments in the content and programming of its competitor Netflix, Disney +. In addition, Disney would spend about $ 24 billion over five years to improve its recreational parks and cruise lines.
As of September 30, the Walt Disney Company had more than 201,000 employees before the transaction with Fox.
As part of Disney's acquisition of the majority of Fox's assets, it includes Deadpool, X-Men, The Simpsons, Family Guy and many others, as well as a series of television channels and movie studios. . It is one of the largest mergers in the history of the entertainment industry.
Just after the conclusion of Fox's purchase agreement with Disney, the company closed Fox 2000. The production studio produced films such as The Devil Wears Prada, The Fault in Our Stars, Man on Fire and the Hidden Characters Oscar nominees.
Fox will live in a limited capacity with a new company – Fox Corporation – with operating units such as Fox News Channel, Fox Sports and other television networks.
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