To generate additional profits from two industries that are being negatively impacted by the increasing popularity of streaming video, a prominent media corporation is consolidating its news division and local stations. Disney will appoint Debra OConnell, an experienced executive, to lead a newly established division that includes ABC News and its local station operations.
Both ABC News President Kim Godwin and Station President Chad Matthews will report directly to her. The structure closely resembles the one implemented by Paramount Global last year, which consolidated CBS News, local CBS stations, and syndication under the leadership of a single executive, Wendy McMahon.
O’Connell, in his role as president of newsgroups and networks for Disney Entertainment, will be accountable to Dana Walden, the co-chairman of Disney Entertainment. Meanwhile, Godwin has extended her contract to continue in her current position, despite the addition of a new layer of management between her and the top executives at Disney.
O’Connell assumes leadership of ABC News during a perplexing period characterized by a growing number of individuals obtaining their news updates and breaking stories from digital and streaming media platforms. ABC News has held a significant position as the most popular choice for evening and morning news programs in the country.
However, their shows “World News Tonight” and “Good Morning America” have recently lost viewership among the 25- to 54-year-old age group, which is the demographic that advertisers value the most in news programming. As of February 11, the viewership of both “World News Tonight” and “GMA” has declined by over 20% in the current season, according to Nielsen data.
Under Godwin’s leadership, ABC News has experienced significant changes, including the removal of several long-standing executives through layoffs and the appointment of a new senior team. ABC News has initiated fresh production agreements with renowned anchors Robin Roberts and George Stephanopoulos, to generate original content specifically tailored for streaming platforms such as Hulu and Disney+.
Additionally, it has successfully undertaken efforts to replenish a pool of skilled individuals that has been reduced due to the departure of prominent figures such as Cecilia Vega, Amy Robach, and TJ Holmes from the anchor positions. Nevertheless, anchors such as Gio Benitez have acquired significant positions.
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