Outdoor Channel To Cut 25 Pct Of Winnercomm Jobs
TEMECULA, Calif. (AP) ¿ Outdoor Channel Holdings Inc. said Wednesday that it's laying off a quarter of employees at recently acquired Winnercomm Inc. because the economic downturn has hurt business.
The owner of the Outdoor Channel cable network bought sports programming producer Winnercomm in January. Outdoor Channel did not disclose how many workers will be laid off and calls to the company were not immediately returned.
According to CapitalIQ, Winnercomm has about 160 employees.
Winnercomm owns the patented Skycam and Cablecam systems, which use aerial cameras to capture overhead video of football games and other major events. Winnercomm, based in Tulsa, Okla., supplies more than 1,000 hours of programming a year to 14 national television networks, including ESPN.Shares of Outdoor Channel, based in Temecula, Calif., rose 7 cents to close at $6.50 on Wednesday.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV