ESPN President John Skipper will be sticking around the sports network.
Skipper’s new contract with ESPN’s parent firm, Disney (DIS), will come to be extended through 2021, according to a source acquainted with the deal.
It was first reported by The Big Lead.
Skipper joined ESPN seeing that president found in 2012. The contract renewal is usually a vote of self-assurance in Skipper during a turbulent time.
ESPN has experienced a number of hardships, which range from declining subscriber quantities and ad earnings to layoffs.
The drop in subscribers was worrisome because ESPN has several expensive long-term TV deals with pro sports leagues.
Earlier this season, the sports network let go roughly 100 on-surroundings personalities and writers.
In 2015, ESPN let go about 300 employees, that was about 4% of its global workforce.
At the time, it was reported that ESPN was told by Disney to trim costs.
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Disney’s decision to hold Skipper in the helm likely means a smoother transition seeing that the network shifts toward digital.
In August, Disney acquired a 33% stake in BAMTech, a significant video streaming and advertising company, and plans to start an ESPN streaming program next spring.