Children’s Television Workshop, looking to streamline operations in preparation for expansion, is reducing and realigning its staff, which will result in cutting 47 positions, or 12% of CTW’s staff.
The heaviest bloodletting is in CTW’s marketing department, but all departments will be reduced. Staffers cut range from assistants to vice presidents.
Over the past several months, CTW has undertaken several new projects in an effort to broaden its range. The company is known primarily as the producer of PBS mainstay “Sesame Street.” Though linked to PBS, CTW is an independent producer. It expects to announce more partnerships in the coming months.
Among projects in the works at CTW are a kids’ cable network and theatrical releases.
In April, CTW retained investment banker Allen & Co. to explore launching a cable network by 1997, tentatively titled New Kids City. CTW has been meeting with cable operators and looking for partners to get the service launched. The programmer has said it is willing to partner with a cable operator on the service to boost carriage.
Also in April, CTW formed a partnership with Sony Corp. of America to produce at least two live-action feature films, which Sony’s Columbia Pictures would distribute.
According to CTW’s corporate review, the company’s domestic TV revenues for the fiscal year ended June 30 were $23.2 million, with a net loss of almost $18 million.
Other areas, including product licensing and international TV, posted revenues of $118 million with a net loss of $5 million.