TNT Reportedly Facing Mass Layoffs as Part of WarnerMedia’s Restructuring Plans
AEW’s home television network TNT reportedly is expected to be facing mass layoffs soon as part of WarnerMedia’s current restructuring plans for their entertainment division, according to the Wall Street Journal.
The Wall Street Journal reports that TNT’s parent company WarnerMedia is currently planning to reduce overall company costs by around 20% with thousands of layoffs expected across their television networks and Warner Bros. studios.
It was reported that the reason for the restructuring is due to decline revenues from cable subscriptions, television ad revenues, and movie ticket sales due to the on-going coronavirus pandemic. Another reason reportedly is due to WarnerMedia’s HBO Max streaming service has been performing below the company’s expectations for subscriptions and revenues since its launch this past May.
AEW’s status with TNT is currently not expected to be affected by the restructuring at WarnerMedia, at least for the short term due to their current television contract having several years remaining.
More on Harold Meij Resigning as NJPW President & Changes in NJPW Management
As noted before, New Japan Pro Wrestling announced earlier this month that Harold Meij will be stepping down as the company’s President and CEO on October 23rd. The general reaction within the company was mostly one of happiness due to Meij reportedly being a very divisive person during his time on the job.
Dave Meltzer reported in this week’s Wrestling Observer Newsletter that one source within the company stated that while Takami Ohbari will be taking over as NJPW’s next President, the current feeling is that Meij will likely still retain some leadership power behind the scenes.
Meltzer also reported that many in the company do not hold positive views of Ohbari due to him not having deep ties to the wrestling industry and Bushiroad’s recent practices of hiring outsiders to leadership roles in NJPW. Those within NJPW reportedly do not want to be told what to do and what not to do by “amateurs” in the wrestling industry.
Meltzer also reported that due to Bushiroad’s recent management decisions, overall morale within NJPW has declined by some extent since 2018.
Misc. Wrestling News & Notes
During a recent interview with Chris Van Vilet, former WWE and NWA wrestler Jazz announced that she has retired as an active in-ring wrestler as of last weekend.
Stardom announced that Jungle Kyona will be out of action for the company for the foreseeable future due to her needing surgery to repair several knee and shoulder related injuries.
Thunder Rosa recently announced that she will be relinquishing her TJPW International Princess title due to being unable to travel to Japan due to COVID-19 travel restrictions.
Pro Wrestling Illustrated announced that they will be releasing a special edition of their monthly magazine featuring a Top 50 Tag Team list on February 2021.
AEW reportedly generated an attendance of 650 for their Chris Jericho 30th Anniversary themed episode of Dynamite this past Wednesday, according to the Wrestling Observer Newsletter. Dave Meltzer reported that 500 were paid fans and the rest were invited guests.