The first major layoff for Sports Illustrated was well-known college basketball analyst Seth Davis.
Earlier today reports surfaced stating Sports Illustrated would be going through a round of layoffs. Just two weeks after ESPN laid off about 100 front-facing employees, SI is set to lay off five staffers, according to the report.
The report mentioned the layoffs will reportedly affect Sports Illustrated’s college sports coverage.
Now, the first major name has been announced.
— The Big Lead (@thebiglead) May 12, 2017
The report states why these moves are necessary:
SI’s parent company, Time Inc., missed earnings badly this week, sending their stock price down from above $15 a share to below $13 a share; earlier this year company leadership turned down an offer to be acquired for $18 a share.
Seth Davis offered the following comment:
[UPDATE: Seth Davis confirmed to The Big Lead that he was one of the staffers laid off. Davis had been with SI since 1995. “I have not an ounce of regret or bitterness. This is the way the industry is headed. SI is a great place with great people.” Davis said that he plans to continue writing.]
It’s been a rough few weeks for sports media. College sports have taken a particularly large hit in the wake of ESPN and Sports Illustrated’s layoffs. Coverage will look very different next year.