A&E networks lays off 10 percent
By Nellie Andreeva
LOS ANGELES (Hollywood Reporter) - It was Black Friday at A&E Television Networks where 100 employees, 10% of the company's workforce, were laid off.
A company spokesman said the job losses were a direct result of the August merger with female-oriented cable network Lifetime.
Under the post-merger structure, Lifetime is being brought into the AETN fold alongside A&E and History Channel under AETN president and CEO Abbe Raven.
The combined company is jointly owned by Disney-ABC and Hearst, each holding a 42.5% stake, and NBC Universal controlling the remaining 15.5%.
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