Disney Cuts High-Level Fox Execs

Two days after completing its landmark acquisition of the legendary Fox studio, Walt Disney Co. began laying off senior-level executives in an effort to wring savings from the $71.3-billion deal.

The initial cuts Thursday affected about two dozen people, most of whom are high-level executives at the 20th Century Fox lot in Century City, according to people familiar with the matter who were not authorized to comment. Termination notices and severance packages started going out Thursday morning.

Among those who are losing their jobs is Chris Aronson, Fox’s well-liked president of domestic theatrical distribution who joined the studio in 2005. Others who are leaving the film studio include marketing President Pam Levine, international distribution head Andrew Cripps and domestic publicity head Heather Phillips.

Marketing co-president Kevin Campbell, product strategy head Mike Dunn, chief content officer Tony Sella and 20th Television President Greg Meidel are departing as well.

As part of the integration, Disney will close down the Fox 2000 label run by Elizabeth Gabler. The unit is best known for producing book adaptations, including “The Hate U Give,” "Hidden Figures" and “Diary of a Wimpy Kid.”

More than 3,000 people, mostly at Fox, are expected to lose their jobs as Disney determines how it will integrate the companies, according to people familiar with the situation. Many of those jobs are in Los Angeles.

Some of those cuts were expected to come this week, but the bulk will probably occur over the next weeks and months.

Deep cuts were widely expected at departments including distribution, home video and marketing, areas where Disney and Fox have considerable overlap. Although some Fox executives are joining Disney, several others won’t be, including 20th Century Fox Film Chairman Stacey Snider. She is considered a candidate to replace Kevin Tsujihara, the former Warner Bros. boss who resigned this week.

Rupert Murdoch and his family held on to Fox News Channel, the Fox broadcast network and Fox Sports, along with the 50-acre studio lot in Century City. The Murdoch family on Tuesday created a slimmed-down company called Fox Corp.

According to Variety, Fox Corp. CEO Lachlan Murdoch held a company-wide meeting and announced that each employee who has been at the company for more than 20 years would receive stock worth $3,000, while those with shorter tenures would receive smaller packages.

“You’re all owners,” Murdoch told employees at the all-hands meeting. “Each and every one of you has a voice and we want it to be heard.”