A round of cost cuts at Minute Media includes layoffs at The Players’ Tribune, the athlete-centric publication that was founded by Derek Jeter, Front Office Sports has confirmed.
The round of cuts included about 10 jobs at The Players’ Tribune. A spokesperson for Minute Media confirmed the outlet will be focusing on writing and pivoting away from video in a move that bucks broader industry-wide trends.
“The Players’ Tribune created the blueprint for athlete-driven storytelling more than ten years ago. Over the last decade, our most impactful stories were those that were written, and with this strategic shift, we will be refocusing and putting even more of our efforts back on the written, long-form athlete narrative while still exploring new ways of storytelling,” a Minute Media spokesperson told FOS in a statement.
“We made these decisions to ensure we can sustain our success over the long term and focus on content creation, distribution and monetization within the sports media ecosystem. We remain committed to the evolution and advancement of our editorial and technology brands, and believe that this more streamlined approach is the right one for the future of the Minute Media business.”
One source speculated that The Players’ Tribune could be divested from Minute Media at some point; a spokesperson for the parent company said that it is “not for sale.”
Cuts at Players’ Tribune and Mental Floss, an outlet that focuses on evergreen internet content outside of sports, were first reported in Semafor’s media newsletter Sunday. It is not immediately clear exactly how many cuts there are in total across Minute Media.
The company acquired The Players’ Tribune from Jeter’s group in 2019. Earlier this month, Players’ Tribune editor-in-chief Sean Patrick Conboy and VP of global brand and athlete strategy Jenna Klein—both original employees at the outlet—told FOS that Jeter is still regularly involved in content discussions. Jeter is on the board of Minute Media but does not take a salary, a company spokesperson said at the time. The spokesperson declined to specify whether The Players’ Tribune is profitable.
Minute Media’s portfolio additionally includes the global soccer site 90min, FanSided, and a 10-year license from Authentic Brands Group to publish Sports Illustrated. Last January, Axios reported Minute Media raised a round of funding at a valuation of $1 billion.
