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Lanon Wee

ESPN Cuts Staff, Releases Van Gundy and Rose

Roughly 20 ESPN on-air personalities are going to be released. This includes NBA commentators Jeff Van Gundy and Jalen Rose. These cost-reduction moves are being made as the sports network works towards reaching its financial goals for the next three years. ESPN on Friday is informing around 20 of its on-air personalities that they will no longer appear on the network's platforms. People familiar with the matter said this includes former NBA head coach and current game analyst Jeff Van Gundy and ex-NBA player and studio analyst Jalen Rose.In a statement, ESPN commented that it has determined it is necessary "to identify some additional cost savings in the area of public-facing commentator salaries," and that process "has begun." It further explained that "this is an extremely challenging process, involving individuals who have had tremendous impact on our company." These "difficult decisions," it noted, are "based more on overall efficiency than merit" and will help the company reach its financial targets and ensure future growth.The move is part of ESPN's efforts to meet its financial goals for 2023 and beyond, and targeting those with higher salaries will allow it to keep more personnel within the organization.Disney, which owns a majority stake in ESPN, recently completed its own rounds of layoffs, with 7,000 employees impacted. The media giant is trying to reduce costs amid slowing streaming growth in order to boost its free cash flow. Should Disney decide to acquire Comcast's minority stake in Hulu, the cash could come in handy — a deal with an option trigger at the start of 2024. ESPN's cuts are not a part of Disney's initiative and are based on its own criteria and objectives. Disney recently changed the corporate structure, giving Jimmy Pitaro, ESPN's Chairman, independent fiscal powers. Another 20 or more people could be impacted as ESPN chooses not to renew their contracts, a source familiar with the matter disclosed, although unnamed. Workers who are laid off will have the opportunity to take jobs in another field, although if they go to a rival, ESPN may offer less compensation for the period of the contract that is still left. Van Gundy has been with ESPN for 16 years and has been celebrated for his commentating and sense of humor. His duo with Mike Breen and Mark Jackson resonated with viewers. Since 2012, Rose was a part of ESPN and ABC's NBA pregame show, NBA Countdown. He joined ESPN in 2007. Last month, ESPN announced it had recruited former NFL punter Pat McAfee who hosts the "The Pat McAfee Show". According to the New York Post, ESPN is giving McAfee an approximate compensation of $85 million over five years. Although this is a huge expense, ESPN feels the show will be profitable instantly.

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