Fox Networks Group is cutting its ad sales staff following the consolidation of broadcast and cable ad sales units and Lou LaTorre, who had been president of ad sales for the Fox Cable Entertainment Networks is leaving his post.
LaTorre is one of the long-time Fox executives who was eligible to take a voluntary buyout offered in November 2014. Those buyouts are being followed with additional job eliminations beginning Thursday morning (Jan. 8) in New York. In all, the new consolidated sales unit will have about 75 fewer staffers.
Fox announced its plan to consolidate its ad sales operation in October under Fox Broadcasting sales chief Toby Byrne. At that time, LaTorre was expected to be Byrne’s number two, with the broadcast, cable and digital teams reporting to LaTorre. After a lengthy decision making process, LaTorre, a 19-year Fox Cable veteran, decided to take the buyout. He is on vacation in Thailand, and expected to seek a new job in the business.
The combination of broadcast and cable sales created a unit with about 300 people. The buyouts and layoffs are expected to reduce that to about 225.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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