After taking a $42 million write-down on its original TV shows, Yahoo has reportedly laid off the team responsible
Sony Pictures TV
Those layoffs include Ian Moffitt, the executive in charge of the so-called Yahoo Originals division, which created TV shows for the Yahoo Screen video service. The Yahoo Screen service shut down in early 2016.
In Moffitt's 19-month stint in the role, Yahoo produced shows like the revived sitcom "Community" and the comedy "Sin City Saints." But despite a ton of hype, the shows were never very popular - Yahoo actually took a $42 million write-down on the Yahoo Originals shows.
In addition to Moffitt, The Information reported that the four other Yahoo Originals employees lost their jobs during the last round of companywide layoffs.
With Yahoo Screen closed, it's no surprise that Yahoo is seemingly shuttering its efforts to create original programs.
Still, it shows that the company is quickly trying to shed some weight while CEO Marissa Mayer figures out Yahoo's next move in the media business.
Earlier this week, reports indicated that the company is shutting down some of its "digital magazines," too, even as word gets around that its core businesses are shrinking.
Yahoo declined to comment on particular teams included in this week's layoffs.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- A surprise visit: Tesla CEO Elon Musk heads to China after deferring India visit
- Unemployment among Indian youth is high, but it is transient: RBI MPC member