Comcast shuts down its gaming-focused TV and online network after massive job cuts

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  • Comcast Corporation (NASDAQ: CMCSA) The viewers division is seeking to shut down its video game-centric TV and online network G4 after massive layoffs less than a year after its return.

  • G4 failed to gain ground despite attempts in recent months, Deadline reports citing an internal email from Spectacor CEO Dave Scott.

  • The closure will affect a few dozen employees and contract workers. Comcast said it would help them with reclassification and consider some for internal opportunities.

  • The departure over the summer of G4 chairman Russell Arons, a veteran digital media executive, was a precursor to the latest move.

  • Spectator has added his duties to the portfolio of Joe Marsh, a Comcast Spectacor veteran who served as CEO of T1, an international esports joint venture with Korea’s SK Telecom.

  • The Spectator has closed G4 facilities in Los Angeles through October 18 and postponed all streams, The Washington Post reported citing an internal Marsh email.

  • Additionally, former employees said Spectator barred staff from internal communication services such as Slack and Alphabet Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Drive. The move came after the crew of “Arena,” a show produced under a crucial deal with WWE, quit last week.

  • On October 14, Take-Two Interactive Software, Inc. (NASDAQ: TWO) has shared plans to shut down the New York-based studio behind the popular mobile game Points, loss of 65 jobs.

  • In August, Meta Platforms Inc (NASDAQ: META) Facebook has shared plans to shut down its Facebook Gaming app after it failed to gain a foothold in the live game streaming market.

  • The gaming industry has grown significantly during the pandemic as it has limited outdoor activities.

  • Price Action: Shares of CMCSA closed down 0.6% at $30.05 on Friday.

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