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ESPN is said to be laying off "hundreds" of employees, in an effort to manage costs. While the exact number of job cuts is unclear, a spokesperson said: "We are implementing changes to enhance continued growth." Owner Disney is asking all divisions to cut costs.
Yahoo, the web giant web that just announced plans to acquire Tumblr for .1 billion, is moving its New York headquarters into the former home of the New York Times, on 43rd Street. Yahoo hopes to erect a large illuminated sign with its name at the top of the building.
In the wake of Yahoo's plan to snap up Tumblr, the attention has shifted to other private tech companies that could be next. Several other potential takeover targets in the media and tech sectors have been identified. They include: Foursquare, WhatsApp, Waze and Hulu.