Comcast Shuts Its Television and Online Network Focused On Gaming After Massive Job Cuts

Comcast Corp's CMCSA Spectator division looks to shut down its video game-centric television and online network G4 after mass layoffs less than a year after its return.
G4 failed to gain traction despite attempts over the past several months, the Deadline reports citing an internal email from Spectacor CEO Dave Scott.
The closure will affect a few dozen employees and contract workers. Comcast said it would assist them with outplacement and consider some for internal opportunities.
The departure over the summer of G4 President Russell Arons, a veteran digital media executive, was a precursor to the latest move.
Spectator added her duties to the portfolio of Joe Marsh, a Comcast Spectacor veteran who has been CEO of T1, an international esports joint venture with Korea's SK Telecom.
Spectator closed G4′s Los Angeles facility until October 18 and postponed all streams, the Washington Post reported citing an internal email from Marsh.
Additionally, former employees said Spectator locked the staff out of internal communication services like Slack and Alphabet Inc GOOG GOOGL Google Drive. The move came after the crew from "Arena," a show produced as part of a crucial deal with the WWE, quit last week.
On October 14, Take-Two Interactive Software, Inc TTWO shared its plans to shut down the New York-based studio behind the popular mobile game Dots, eliminating 65 jobs.
In August, Meta Platforms Inc META Facebook shared plans to close down its Facebook Gaming app after failing to gain a foothold in the live game streaming market.
The gaming industry significantly boosted during the pandemic as it restricted outdoor activities.
Price Action: CMCSA shares closed lower by 0.6% at $30.05 on Friday.

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