Media Madness – Media Industry’s Job Cuts ✂

Media Madness – Media Industry’s Job Cuts

The media and news industry had a rather busy start to the week as every part was affected by some sort of major announcement. From politics to sports, this industry is often controversial and has been highly scrutinized in the past decade for unfortunate reasons, with some of the moves being a byproduct of that.

In the politics realm, host Tucker Carlson and Fox parted ways in a surprising yet understandable move, given that Carlson became the highest rated host in primetime cable news. There are many adjectives to describe Tucker Carlson, and the sentiment behind each one varies greatly depending on who you ask, a great snapshot of how polarized America is. Fox News is known to be a right-wing news network, and they have played a major role in the polarization of America along with other news networks like CNN. This comes just a week after Fox announced a settlement in the lawsuit with Dominion Voting Systems amounting to $787.5 million, where anchors like Tucker Carlson repeatedly spread lies about the company in the wake of the 2020 election while knowing those claims were false.

Speaking of CNN, they fired controversial host Don Lemon on Monday, two months after making an off-handed comment about Republican presidential candidate Nikki Haley. This marks the second anchor to be removed by CNN after Chris Cuomo, which isn’t a good look for the company.

In sports media, Disney began layoffs at ESPN as part of its plan to cut 7,000 jobs from the company, with executive Russell Wolff being one of the bigger departures. Purely a cost-cutting move, it’ll be interesting to see if any of our favorite ESPN hosts depart in the next waves of layoffs.

Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
OPEC’s Decision 🛢

OPEC leaders just hosted an important late-November meeting that may signal a change in strategy.

Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.