Departing 20th Century Fox CEO Discusses the Human Cost of the Disney-Fox Deal and Industry Consolidation

But there’s a human cost. Thousands of people will lose their jobs.

“It’s been really challenging to manage a company for almost a whole year knowing that these cuts are coming. Most of the employees at Fox have been there for decades. They’ve given most of their careers to Fox. Many of them are hanging on to see if there will be an opportunity at Disney. My job for the last year has also been chairman of human emotions and resident shoulder to cry on. There’s going to be a lot of job loss. However, and this is not to diminish the pain people will go through, but time waits for no one. This will not be the first or last consolidation the industry sees.”