Major changes are underway in the very top ranks of the biggest broadcast networks, which despite ratings declines, still drive millions of viewers and billions in revenue.
Why it matters: Network television is facing massive viewership declines and is losing top talent to big tech companies, like Netflix and Amazon. Abrupt leadership exits are further compounding those problems.
- The latest ... NBC's top entertainment exec is leaving, while NBC News Chairman Andy Lack (who sits on the board of Axios) has faced criticism over the network's handling of sexual misconduct.
- ABC's top media executive is leaving. He joins several big-name producers leaving the network for Netflix.
- Fox is losing some of its top network executives to Disney/ABC after it completes its merger with the company.
- CBS has lost its chairman, a top anchor and a top news producer this year to misconduct allegations.
- Univision has experienced changes to most of its C-suite leadership after a scrapped IPO and restructuring earlier this year.
- Go deeper: Fuller list here
The other side: Changes to the media landscape are having an enormous impact on executives at many media-related businesses, not just network TV. Tech companies, talent agencies, and advertising firms have all been losing or transitioning top talent.
- Case-in-point: Instagram’s co-founder and CEO Kevin Systrom announced yesterday that he and co-founder Mike Krieger are stepping down from the company after eight years, with six under Facebook's ownership.
The big picture: These shakeups are happening amid fall TV show launches, the most important part of the TV year.
- "The whole decision-making apparatus is in flux," says one top media executive, which will impact preparations for next year.
- "No one knows who's in charge, who's buying, who’ll be putting shows on the air. The whole cycle of development and pilots has been disrupted," they said.
The bottom line: While executives come and go regularly, no one can remember a time when there was so much change and turmoil at the top of all of the networks at the same time.