ABC's "NBA Saturday Primetime" Returns Twins Nix Midwest Music Showcase Cowboys Consider Buying E-Sports Team NASCAR HOF To Induct Three Team Owners Bellator Signs Jenn Brown To TV Contract G Fuel Energy Drink To Sponsor ELeague SB Advertisers Could Take More Measured Approach Raiders File Paperwork To Move To Vegas Kraft Profile Examines Goodell Relationship Trump Began With Sports Long Before Politics
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).