Richard Drew / AP

Disney, the parent company for ABC, ESPN, Freeform and the Disney Channel will lay off up to 300 employees, WSJ reports. Most of the cuts are expected to come at ABC and local TV studios, and some at Disney and Freeform.

Why it matters: The company has continued to post losses due to declining ad revenues and increased programming costs, and is seeking to cut costs at the Disney/ABC Television Group by 10%.

Ben Sherwood, President of the Disney/ABC TV Group, is overseeing the cuts, WSJ reports, and will present a plan to Disney CEO Bob Iger in the coming weeks.

Our thought bubble: Revenue declines have often been blamed on ESPN, which already had major layoffs this year, but the network doesn't look to be affected by this round of cuts.

Go deeper

Bryan Walsh, author of Future
52 mins ago - Health

Rockefeller Foundation commits $1 billion for COVID-19 recovery

A health worker performs a COVID-19 test in New Delhi. Photo: Raj K Raj/Hindustan Times via Getty Images

The Rockefeller Foundation announced on Monday that it will allocate $1 billion over the next three years to address the pandemic and its aftermath.

Why it matters: The mishandled pandemic and the effects of climate change threaten to reverse global progress and push more than 100 million people into poverty around the world. Governments and big NGOs need to ensure that the COVID-19 recovery reaches everyone who needs it.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk — Mark Meadows: "We are not going to control the pandemic"
  2. Health: 13 states set single-day coronavirus case records last week — U.S. reports over 80,000 new cases for second consecutive day.
  3. World: Italy tightens restrictions Spain declares new state of emergency.
  4. Media: Fox News president and several hosts advised to quarantine after possible COVID-19 exposure

Fox News president and several hosts advised to quarantine in COVID-19 precaution

A political display is posted on the outside of the Fox News headquarters on 6th Avenue in New York City in July. Photo: Timothy A. Clary/AFP via Getty Images

Fox News President Jay Wallace and anchors Bret Baier and Martha MacCallum are among those recommended to get tested and quarantine after possible exposure to COVID-19, the New York Times first reported Sunday night.

The big picture: The Fox News contingent, which also included "The Five" show hosts Juan Williams and Dana Perino, were on a charter flight from Nashville to New York following Thursday's presidential debate with a person who later tested positive for the coronavirus.