ESPN chief John Skipper gets contract extension

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.

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