Internet TV service Joost is cutting jobs, eliminating customer service, and demoting its CEO. Joost has not announced the number of layoffs; it employs 100 people in New York, London and the Netherlands. The firm will move away from its identity as a consumer website due to competition from Hulu, and will concentrate on selling its video [...]
Continue reading...Thursday, April 2, 2009
CNN will increase its workforce this year and invest in its Internet operations. The cable television news network will scale back investment in technologies rather than fire employees. CNN is hiring 30 workers for its newswire service this year, and plans to recruit more for international news. CNN, owned by Time Warner, is confronting both the recession [...]
Continue reading...Saturday, March 28, 2009
Santa Monica, California-based movie and television studio Lions Gate Entertainment has slashed jobs for the second time in five months. The studio is eliminating 45 positions, or 8% of its 550-person workforce. The cuts included 27 people laid off Friday, and 10 who were moved into independent contractor consulting jobs and production deals. Eight open positions will [...]
Continue reading...Wednesday, March 11, 2009
Television station owner Belo will cut 150 jobs, reduce some employee salaries by 5%, and suspend its 401(k) matching contributions. The salary reduction will affect employees who are part of the Dallas-based company’s management-compensation programs. The suspension of the 401(k) matching will apply to all employees. Belo, which owns 20 television stations, said the layoffs will take [...]
Continue reading...Tuesday, March 3, 2009
St. Petersburg, Florida’s Home Shopping Network cut about 250 jobs in Q4 2008, and canceled merit increases for 2009. HSN, which had about 5,500 full-time employees at the end of 2007, also reported a loss of $2.15 billion, versus a profit of $56.5 million in Q4 2008. Sales were slightly down in November and December. Demand for high-ticket [...]
Continue reading...Tuesday, February 24, 2009
The building that formerly housed the Detroit Free Press, one of the nation’s many troubled newspapers, is now under new ownership. Richard Gerber of Troy Michigan plans to convert the building into a film-production studio in the hopes of cashing in on Michigan’s recent boom in film production work. Gerber has formed a venture partnership [...]
Continue reading...Thursday, February 19, 2009
Entertainment industry jobs in Los Angeles will decline further in 2009 after an annual decline in 2008, according to the Los Angeles Economic Development Corp. After falling to 154,000 in 2008 from 157,800 in 2007, industry jobs in the region are forecast to fall to 153,600 in 2009, mostly due to cutbacks in broadcasting. The television sector [...]
Continue reading...Thursday, February 12, 2009
Mountain View, California-based Internet search-engine behemoth Google has announced plans to shut its three-year-old radio-advertising business and cut as many as 40 jobs. The company, which expanded into the market with the 2006 purchase of DMarc Broadcasting, is seeking a buyer for software that arranges ads on radio programs. Google will stop selling radio ads by [...]
Continue reading...Thursday, February 12, 2009
Tokyo’s Pioneer will cut 10,000 jobs and close its television operations, as the slump in global electronics sales forced the company to widen its annual loss forecast to a record ¥130 billion ($1.44 billion). The company will withdraw from the TV business by March 2010, and cut 16% of its full-time workforce and 4,000 temporary positions. As [...]
Continue reading...Wednesday, February 11, 2009
Sinclair Broadcast Group has eliminated 200 jobs, or 7% of its work force, and suspended its quarterly dividend to cut costs as it expects falling advertising revenues this year amid a recession. Besides layoffs, the Hunt Valley, Maryland broadcaster is cutting back on capital expenditures, freezing salaries, lowering promotional spending and travel. Such moves are expected to [...]
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Tuesday, June 30, 2009
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