A&E Network has announced a series of layoffs affecting staffers and executives alike across the Hearst Communications, Disney-owned Lifetime, History Channel, and A&E networks, as the cable industry continues to be buffeted by steep financial losses.
It was not reported how many staffers are being let go, but a lengthy list of executives were identified as being separated from the company, Deadline reported.
“This is like Red Wedding week for television,” one insider told the outlet about the layoffs.
Lifetime, for instance, is losing Amy Savitsky, its SVP of unscripted development and programming. Savitsky, who came to Lifetime from History, worked on series including The Proof Is Out There, The Bermuda Triangle: Into Cursed Waters, and Leah Remini: Scientology and the Aftermath, among others.
Along with Savitsky, Lifetime program development VPs Kim Chessler and Cat Rodriguez are also on the chopping block. Chessler had been with the company for 14 years.
Also facing the axe is 30-year executive Peter Tarshis, who was the Biography Channel’s VP of programming.
At History, those heading to the unemployment line include VP of unscripted programming Zach Behr, who oversaw series including Pawn Stars, Swamp People, and Top Gear.
The news comes on the heels of the announcement that Paramount Global is shutting down its Paramount Television Studios, not because of a lack of success, but because Paramount Global is loosing billions and cost cutting is a necessity.
According to The Wrap, Paramount Global lost $5.98 billion on its cable networks in the second quarter.
As for Disney, which jointly owns the A&E Networks with Hearst Communications, the pinch is very real indeed. In May the company announced that it was making drastic cuts in new programing to save money and will “reduce pretty dramatically our investment in [linear TV] content specifically aimed at those traditional networks.”
These massive cutbacks all across the entertainment industry comes as consumption of films and TV continues to undergo major changes, forcing providers to scramble to adjust, and cable TV is the hardest hit of all.
In July, for example, Charter Communications, one of America’s largest cable TV providers, lost nearly 400,000 subscribers in one quarter alone. And Charter is hardly alone. All cable providers are losing customers by the basketful.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston
