Disney’s Maker Studios Pink-Slips Nearly 30 Workers
Maker Studios, the multichannel network owned by Disney, is currently in the process of laying off less than 30 employees, TheWrap has learned from an individual familiar with the cuts.
Disney acquired Maker in 2014 in a $500 million deal — with up to $450 million more if incentives were met. Maker has failed to meet those targets, receiving only about $200 million.
The multichannel network hosts Internet hits like “Epic Rap Battles of History,” and one of the channel’s subnetworks is home to PewDiePie, a gaming commentator who is behind the world’s most-subscribed YouTube channel. But the company has hit some speed bumps since the acquisition, as synergies with Disney have been slow to take shape, and several executives departed from the company.
Also Read: What's Behind Maker Studios' Dilemma: Executive Exits, Missed Revenue Targets
In January, Courtney Holt replaced Ynon Kreiz as the head of the multichannel network.
Related stories from TheWrap:
Ynon Kreiz to Depart Maker Studios, Succeeded by Strategy Chief Courtney Holt
Maker Studios Partners With Lakeshore Entertainment's Off The Dock for Digital Mockumentary
What's Behind Maker Studios' Dilemma: Executive Exits, Missed Revenue Targets
