Media Industry Sees Layoffs and Restructuring Amidst New Deals and Releases

The media industry is undergoing significant changes, with some companies reporting strong earnings and others undergoing restructuring. TKO, the owner of UFC, WWE, and IMG, reported its fourth-quarter earnings, which showed a strong performance. The company's revenue reached $1.04 billion in Q4, with a net income of $0.8 million and adjusted EBITDA of $281.2 million.

TKO's strong earnings are attributed to its recent rights deals with Paramount and Disney. The company is targeting revenues of between $5.675 billion to $5.775 billion in 2026, with adjusted EBITDA expected to reach between $2.240 billion to $2.290 billion. This represents a significant increase from 2025, where the company reported revenue of $4.73 billion and adjusted EBITDA of $1.58 billion.

However, not all media companies are experiencing the same level of success. Nexstar, a leading television station operator, has announced significant layoffs across the country, including at its flagship stations WPIX New York, WGN Chicago, and KTLA Los Angeles. Among those affected is longtime KTLA weather anchor Mark Kriski, an eight-time Emmy winner who has been an L.A. TV fixture since 1991.

SAG-AFTRA, the union representing broadcast and cable television performers, has decried the cuts, stating that the layoffs will have a significant impact on the quality of local news and programming.

In other news, the hit Netflix series "Untamed" has added Moon Bloodgood and Kekoa Kekumano to its cast as series regulars. The show, written by Mark L. Smith and Elle Smith, follows a special agent as he investigates a mysterious case.

Meanwhile, Pixar's latest sequel, Toy Story 5, is set to hit theaters in June. The movie will feature new voices for the iconic characters of Mr. and Mrs. Potato Head, following the deaths of the original voice stars Don Rickles and Estelle Harris. Jeff Bergman will voice Mr. Potato Head, while Anna Vocino will voice Mrs. Potato Head.

According to writer-director Andrew Stanton, the decision to recast the characters was made after auditions were held. Stanton stated that the new voices were chosen to ensure that the characters remained true to their original spirit.

As the media industry continues to evolve, it remains to be seen how these changes will impact the quality of content and the livelihoods of those working in the industry.

Sources:
- KTLA's Mark Kriski Among Layoffs As Nexstar Eliminates Jobs at Stations Across the Country; SAG-AFTRA Decries Cuts
- TKO Tees Up Blockbuster 2026 As It Reports Fourth Quarter Earnings
- TKO Meets its 2025 Financial Guidance With Q4 Report, Plans Another $1 Billion Share Buyback Program
- Moon Bloodgood & Kekoa Kekumano Join ‘Untamed’ Cast As Series Regulars
- How ‘Toy Story 5’ Found Its Potato Head Voices After Deaths of Don Rickles, Estelle Harris