Sunoco Debuts "Essence Of Racing" Campaign Isiah Thomas Expected Backlash Over Hiring FanDuel Brings On Most Of Zynga Sports Team Georgia Approves Increased Athletic Budget Kentucky Adding Ribbon Boards At Rupp IndyCar Ponders How To Attract Fans Long Term Jeff Gordon Hired As Full-Time Analyst For Fox Danica's Sponsorship Status To Be Telling For NASCAR Classified Advertisements Pac-12 Paces Ahead Of Other Conferences In Revenue
Reebok plans to cut 500 administrative jobs in the first quarter, or 10% of its work force, "as part of a multimillion-dollar restructuring to reduce costs," according to a wire report in the BOSTON GLOBE. It was "unclear where the cuts would fall." Reebok President Robert Meers said the MA-based company wants a "more focused organization." Meers: "This is a year of execution, not a year for broad-based marketing" (BOSTON GLOBE, 2/5). RESULTS: News Corp. said net profit rose 23% in its second fiscal quarter ended December 31, '97. Net profit rose to $396M, or $.41 a share, from $321M, or $.40 a share a year earlier. In other news, CBS' media holding had a $10M loss in the quarter ended December 31, "an improvement compared" with a $63M loss during the same period a year ago. Sales for the quarter jumped to $1.47B from $1B (WALL STREET JOURNAL, 2/5). On "The Edge," CNBC's Sue Herrera: "Better but not good enough for CBS" (CNBC, 2/4).