On Monday, John Skipper stepped down from his position as president of ESPN (which is a joint venture owned by Disney (NYSE:DIS) and Hearst Communications). This is significant news as Skipper cited substance addiction as the reason for his resignation.
In a statement released to the public, Skipper stated that he has struggled with substance addiction for a number of years, and that, despite his love and respect for ESPN, the most important thing he can do right now is to try to tackle the problem head-on.
Skipper’s resignation will take effect right away. He stated, “I come to this public disclosure with embarrassment, trepidation and a feeling of having let others I care about down.”
For those who don’t know, Skipper was known to be an extremely influential person in the sports and media world. Many praise him for the way he handled the company’s portfolio during times of strain on the cable business.
According to a source close to the matter, Skipper’s resignation from ESPN was only because of his substance addiction and it does not have any connection to last week’s report that Disney will be purchasing the majority of Twenty-First Century Fox (NASDAQ:FOXA).
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