UPDATED with statement and Brad Schwartz’s memo: Layoffs are underway at the CW. According to sources, as many as 35 people have been let go, with scripted development and PR particularly hard hit.
While SVP communications Beth Feldman and VP Rob Moynihan are said to be staying, the entire team under them has been laid off, I hear. The scripted department is said to be completely gutted, including department head, SVP Liz Wise Lyall. Also impacted are unscripted, including No.2, VP Betsy Slenzak, and marketing.
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The latest round of cuts comes on the heels of a change at the helm of the CW, with Dennis Miller stepping down as president after two years. The network’s President of Entertainment Brad Schwartz, who succeed him, addressed the layoffs in a memo to staff (You can read it in full below).
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“Today we had to make one of the hardest decisions a company can make—eliminating a number of positions,” he said. “We are making these changes not because they are easy, but because we believe they are necessary to build a stronger future for The CW.”
Quoting former News Corp. President Peter Chernin about only jobs worth taking being “the ones where you get to start something or the ones where you get to fix something,” Schwartz noted that “we will continue to transform the network to reach a broader and larger audience, continue our march to profitability, and continue to position The CW for long term success.”
The CW previously underwent multiple rounds of staff cuts following the closing of Nexstar Media’s deal to take 75% ownership of the network.
The layoffs are part of Nexstar‘s plan to make the network profitable by 2025, in large part by ditching the high-end scripted dramas favored by previous joint venture partners Paramount and Warner Bros. Discovery, each of which still has 12.5% of the network.
Today’s cuts are said to reflect that programming shift away from high-end scripted toward live sports and unscripted/game shows. Outside of legacy drama All American, the few other CW scripted series are low cost co-productions/acquisitions.
In the most recent Q3 earnings report released last week, Nexstar reported a 22% ad sales increase tied to the election. The company reported that operating losses at the CW have been reduced by $119 million year-to-date and that programming costs for the network have been reduced by nearly 52% from when Nexstar acquired the CW in 2022.
Here is Schwartz’s memo:
Team:
Today we had to make one of the hardest decisions a company can make—eliminating a number of positions. Saying goodbye to talented friends and colleagues is painful and deeply personal, and I know that each of these individuals has been a vital part of who we are. We are making these changes not because they are easy, but because we believe they are necessary to build a stronger future for The CW.
Legendary media executive Peter Chernin once said, “The only jobs worth taking are the ones where you get to start something or the ones where you get to fix something.” We’ve worked tirelessly over the past two years to evolve and reimagine The CW, against both tough competition and incredible change in our industry. It’s hard to believe everything we’ve accomplished in such a short amount of time. The journey has been challenging and meaningful, and there is still lots of work to do.
We will continue to transform the network to reach a broader and larger audience, continue our march to profitability, and continue to position The CW for long term success.
We are moving forward into 2025 with more live sports than ever, including the NASCAR Xfinity series, WWE NXT, PAC-12 Football, ACC Football and Basketball, and more. We’re producing exciting new game shows like Scrabble and Trivial Pursuit, unscripted hits like Penn & Teller: Fool Us and Police 24/7, and returning scripted favorites like Sullivan’s Crossing, Wild Cards, and All American.
As we look to the future, we remain committed to staying nimble, always open to change, and willing to adapt and grow. To those who are leaving, I’d like to thank you for everything you’ve done to shape The CW. To those continuing on, let’s keep working hard, pushing boundaries, and building something we can all be proud of.
Sincerely,
Brad
Lynette Rice and Dade Hayes contributed to this report.