The NFL still hasn’t found an external investor in NFL Media, despite seeking one for nearly two years now. And despite the league’s eye-popping round of new media deals, cost-cutting and layoffs could be coming to the league’s media operations arm in the near future.
Per the New York Post, an ongoing review “will result” in cost-cutting and “will likely” include layoffs.
Several sources told The Post that the league’s media division, which includes NFL Network, NFL Red Zone, NFL Films and NFL.com, is in the midst of a strategic review that will result in major cost cuts.
These cuts will likely include jobs being lost.
“Given this period of broader economic uncertainty, it’s fair to say the NFL’s media group is taking an extra step or two to make sure all costs and expenditures make sense,” a source familiar with the matter said.
I don’t think this is necessarily a surprise. That lack of an investor didn’t really help NFL Media’s finances, and last year’s launch of NFL+ also likely required plenty of resources. The NFL is also not immune to cord-cutting, losing subscribers to NFL Network on cable and satellite carriers across the country.
This is by no means a death knell for NFL Media, but rather an unfortunate development in the current media landscape. It’s a tough decision, but probably a prudent one.