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Photo: David Kohl / AP file

ESPN is laying off another 100 staffers, per Sports Illustrated. The news broke shortly before ESPN's parent company, Walt Disney Co. announced that its' cable networks revenue, driven mostly by ESPN, was down year over year. Advertising was down by the lower single digits. A reported decrease in ad impressions was offset by higher ad rates.

Why it matters: Once hailed the king of cable, ESPN is now a reflection of what many in the cable industry are facing today: a steady loss in subscribers, higher production costs and stagnant ad revenues. Earlier this year, Disney purchased a majority stake in BAMTech, the cutting-edge digital TV provider for MLB Network, WWE and others, to transition programming onto an on-demand, digital platform. But that integration isn't slated to finish for some time, and in the interim, ESPN needs to adjust its cost structure, including talent, while it adapts to the changing landscape.

Countering losses, the company revealed more details about its planned digital sports streaming service which is set to debut in part next year.

  • The service, called "ESPN Plus" will launch next spring and will be available through a new redesigned version of the ESPN app. It will stream channels on an authenticated basis and consumers can subscribe to the app for additional sports content.
  • The service will be ad-supported, unlike its sister entertainment product that Disney plans to launch for movies and shows in 2019 to rival Netflix
  • The investment in Bamtech will be costly upfront, Disney CEO Bob Iger told investors on Thursday's earnings call. "Consolidation of Bamtech will adversely impact cable operating income by about $130 million compared to last year," Iger said. "Roughly half the Bamtech-related impact will happen in Q1 of next year."

Go deeper

White House aims to protect workers from extreme heat

Two pear pickers in Hood River, Oregon on August 13, 2021. (Michael Hanson/AFP via Getty Images)

The White House announced a slew of actions Monday, including the start of a rule-making process at the Occupational Safety and Health Administration (OSHA), to protect American workers from extreme heat.

Driving the news: The U.S. just had its hottest summer on record, with triple-digit-temperatures killing hundreds in the Pacific Northwest and exposing outdoor workers to dangerous conditions.

Robert Costa: Gen. Mark Milley "was not going rogue" with China calls

Washington Post journalist Robert Costa on Monday said in an interview with ABC's Good Morning America that Joint Chiefs Chairman Mark Milley "was not going rogue" when told his Chinese counterpart that the U.S. would not launch a surprise attack.

Driving the news: President Biden last week expressed "great confidence" in Milley after excerpts released from Costa's and Bob Woodward's book "Peril" revealed calls where Milley admits he would let China know ahead of time if former President Trump decided to attack.

Delta variant fears curb fall flying

Travelers in the Miami International Airport. Photo: by Joe Raedle/Getty Images

Continued worries about the Delta variant are derailing fall travel plans.

Driving the news: Thanksgiving domestic flight bookings in August were 18% lower this year compared with 2019, according to a new Adobe Digital Economy Index report out Monday morning.