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The layoffs will initially impact more than 1,000 employees, and approximately 1,000 more employees are expected to be laid off in the near future, resulting in total cuts of 10% of the company's roughly 20,000 employees.

Las sesiones busca acercar proyectos audiovisuales en etapa de desarrollo, producción, work in progress, gap de financiamiento o empaquetado, a compañías, posibles productores, compradores, inversores y ejecutivos de la industria.

The executive, who has been a leading force in global television for over three decades, will pass the leadership baton for the division to veteran licensing and distribution executive Dan Cohen, who will assume his new role next month.