Atlanta Braves, Formula One and SiriusXM parent company Liberty Media reported steep losses for the third quarter of its 2020 fiscal year that ended on Sept. 30. 

The Braves saw overall revenue drop 48% to $110 million, which includes $8 million in rental income from the team’s mixed-use facilities. Total team expenses were $104 million and it had an operating loss of $16 million, compared to a profit of $21 million a year ago. The team is also not expecting to see any significant revenue from its playoff run.

The financial state wasn’t any better for Formula One, which did not have fans at 16 of 17 races in the quarter. The circuit had $597 million in revenue, down from $633 million in the same period last year — partially offset by “growth in broadcasting and advertising and sponsorship fees.” Formula One posted a $115 million operating loss compared to a $32 million profit last year. 

Electronic Arts, parent company to popular video game developer EA Sports, has signed multi-year renewals of its partnerships with the NHL and UFC to continue making simulation games for both sports. The length of the NHL extension was not disclosed, while UFC’s is for 10 years

The latest iterations of both games — EA Sports UFC 4 and EA Sports NHL 21— were released earlier this year. Users played more than 64 million simulated UFC fights during UFC 4’s launch week in August, a 125% increase compared to the previous edition. NHL 21’s launch on Oct. 16 garnered the most daily active players for the franchise in the last three years. 

EA announced today that its total net revenue for the second quarter of its 2021 fiscal year was $1.151 billion, down from $1.348 billion for the same period last year. Net income was $165 million.

ESPN announced the biggest round of layoffs in the company’s 41-year history this morning. In an internal memo, ESPN President Jimmy Pitaro announced 300 jobs would be cut — and another 200 open positions eliminated. 

The job losses will hit behind-the-scenes staffers engaged in the remote production of hundreds of collegiate and pro game telecasts the hardest. In 2015, ESPN eliminated 350 mostly behind-the-scenes staffers.

But on-air TV and radio talents are not completely safe from ESPN cost-cutting plans either. The network, for example, is simply not renewing the contracts of some mid to senior-level talents, or is asking them to come back at a reduced salary.