After taking a $42 million write-down on its original TV shows, Yahoo has reportedly laid off the team responsible
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Yahoo has laid off the team behind its original TV shows, reported The Information.
Those layoffs include Ian Moffitt, the executive in charge of the so-called Yahoo Originals division, which created TV shows for the Yahoo Screen video service. The Screen service shut down in early 2016.
In Moffitt's 19-month stint in the role, the company produced shows like the revived sitcom "Community" and the comedy "Sin City Saints." But despite a ton of hype, the shows were never very popular — Yahoo actually took a $42 million write-down on the Originals shows.
In addition to Moffitt, The Information reported that the four other Originals employees lost their jobs during the last round of companywide layoffs.
With Screen closed, it's no surprise that Yahoo is seemingly shuttering its efforts to create original programs.
Still, it shows that the company is quickly trying to shed some weight while CEO Marissa Mayer figures out Yahoo's next move in the media business.
Earlier this week, reports indicated that the company is shutting down some of its "digital magazines," too, even as word gets around that its core businesses are shrinking.
Yahoo declined to comment on particular teams included in this week's layoffs.
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