ESPN has outbid their competitors for major live television events rights, such as professional basketball (NBA), Monday Night Football (MNF) games, and Major League Baseball (MLB) games. However, that bill has come due because of declining cable subscribers due to cord-cutting among Millennials.
ESPN had a massive wave of layoffs earlier this year, but reports indicate that another wave of layoffs  will come before Christmas. The main target of the layoffs is their premier show, “SportsCenter,” which has employees tense and unsure of their future.
Much is made of how ESPN has become too political  in the sports world, and that has led to declining viewership and cable subscriptions. For example, ESPN SportsCenter host Jemele Hill called President Donald Trump a “white supremacist” and was later suspended  for a different statement on boycotting the advertisers of the NFL.
However, reports are mixed on whether their politicking has affected their bottom line, while their live TV rights and contracts are the main reason why they’re being weighed down.