The other shoe has dropped: Fox began the process of laying off about 4,000 employees on Thursday, one day after the film and TV studio finalized its multibillion-dollar sale to Disney, a studio executive told TheWrap.Senior-level staff will likely be the first impacted by the cuts, the executive said. New owner to eliminate Fox 2000, the label behind ‘Fight Club’
Fox Family will become part of Twentieth Century Fox, and the Fox 2000 label will stop producing movies after its current slate is released.The deal, one of the most sweeping in the current wave of media-industry consolidation, shrinks the number of major Hollywood studios to five from six, and is expected to result in thousands of job losses.
Retrieved on January 23, 2020. [SBJ 6.22] "Disney Drops Fox Name, Will Rebrand as 20th Century Studios, Searchlight Pictures".
Anousha Sakoui, New owner to eliminate Fox 2000, the label behind ‘Fight Club’ ... 2020, 9:00 AM EDT “It has been an honor and a privilege to lead the domestic distribution team, which I consider to be the gold standard in the business. Iger had earlier praised Fox’s artier labels, such as the Oscar-winning Fox Searchlight. In addition to the Fox layoffs, Golf Channel will eliminate some jobs as part of its relocation from Orlando to NBC Sports’ Stamford, Conn., headquarters.
“We want to acknowledge that and assure you we are committed to engaging in this process thoughtfully and communicating changes as we are able – most importantly with respect for all involved.” Stacey Snider, the studio’s chairman, said months ago that she would be leaving.The merger combines Fox’s movie labels -- Twentieth Century Fox, Fox Family, Fox Searchlight Pictures, Fox 2000 and Blue Sky Studios -- with Disney film banners such as Walt Disney Animation Studios, Pixar Animation Studios, Marvel Studios and Lucasfilm. The acquisition of 21st Century Fox by Disney took place on March 20, 2019. Fox is said to be cutting back on low-rated studio shows, canceling “Inside PBC” and scaling back “WWE Backstage” among other moves. But, of course, in corporate lingo, “synergies” is often synonymous with layoffs. Some staff, the executive said, will move over temporarily in a transitional role, though it is unclear at this juncture how long some will have a job at the newly combined company.Disney has already set some of its senior leadership under the new structure, announcing in October that Emma Watts would make the move to the studio’s management team, reporting directly to Disney studio head Alan Horn as vice chairman for Twentieth Century Fox Film and president of production at Fox.Disney also said that Nancy Utley and Stephen Gilula will stay on as co-chairmen for Fox Searchlight and will also report directly to Horn.And the studio reversed step on Thursday, making the decision to shutter Fox 2000 after previously announcing that president of production at Fox 2000, Elizabeth Gabler, would make the jump to the combined studio to continue to run the banner.Hours before Fox executives started getting calls about layoffs, Walt Disney Studio chairman Alan Horn and studio president Alan Bergman sent a memo to Fox staff thanking them for their patience as they prepare for “quite a bit of change.”“Although there is much to look forward to, we know this integration will entail quite a bit of change across our organizations,” Horn and Bergman wrote.
The company initially produced animated movies and over time it expanded into theater, radio, music, publishing, and online media. ↑ Vary, Adam (January 17, 2020).
A Fox executive, who asked not to be identified, confirmed that Murdoch said he was planning to distribute shares to all employees.
The organization will be run by Studio Chairman Alan Horn, alongside Studio President Alan Bergman, Disney said in a statement Thursday.“Bringing together the legacies, talent, and capabilities of Disney and Fox greatly expands our ability to create a wide range of transportive storytelling experiences for audiences,” Horn said.Not all of the Fox brands will survive in their current form.
Layoffs are beginning in executive ranks.
The Fox studio used to release a dozen or more movies in a year when it was a separate company, but is set to release only nine in 2020. More Layoffs Sweep Through Disney and Fox Following Merger. Disney (official name: The Walt Disney Company) is a large multinational media and entertainment company. It continues to be controlled by Lachlan Murdoch, Rupert’s son and CEO of that business, held a town hall meeting Thursday. Disney Begins Fox Layoffs With Cuts Focusing on Film Studio By .
Michelle Marks, senior vice president of media promotions, and Julie Rieger, Fox chief data strategist and head of media, were also let go.Bob Cohen, Fox studios’ executive vice president of legal affairs and Fox stage productions, who also oversees our theatrical business also left the company as part of the layoffs.On Wednesday, Disney closed its $71.3 billion acquisition of Fox’s film and TV entertainment assets. The new Fox chief also spoke about focusing on a collaborative culture driven by a new senior leadership team, thanked his father and outlined an optimistic vision for the future. Mon, Jul 20th, 2020 Subscribe Entertainment giant completed acquisition earlier this week Signage is displayed at the Twenty-First Century Fox Inc. Studios in Los Angeles.Signage is displayed at the Twenty-First Century Fox Inc. Studios in Los Angeles. ↑ "Fox Television President Greg Meidel Out As Disney-Fox Layoffs Continue", Deadline (March 21, 2019).
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