Word on the street is that ESPN is planning to lay off "200 to 300" employees in the coming months.
The go-to euphemism surrounding the impending layoffs, according to Variety's Brian Steinberg, is "the changing media landscape," primarily the "cord-cutting" phenomenon. In July, the Big Lead blog, in discussing Keith Olbermann's expected departure from ESPN, explained that "millennials are eschewing expensive cable TV bills and streaming everything online." While that might explain flat viewership or even a modest decline, cord-cutting is only a minor part of the problem. Someone needs to explain why ESPN's ratings have fallen by a stunning 30 percent in the past 12 months.