Walt Disney Co. is eliminating roughly 200 jobs across its ABC and entertainment TV networks, according to an internal memo.

The majority of the cuts affect the ABC News division in New York. Production units including ABC News Studios, 20/ 20 and Nightline will be consolidated and the impacted employees were to be notified on Wednesday, according to the memo.

“ABC News Group and Disney Entertainment Networks continually evaluates new ways to effectively manage resources and boost efficiencies,” the memo read. The Status newsletter and the Wall Street Journal earlier reported the news.

The data-driven news website 538 will also be shut down. Nate Silver, who founded the site, said in a post on X that 538 produced “a lot of extremely valuable data and insight for everyone who wants to understand politics.”

Since 2023, Disney has eliminated more than 8,000 roles as part of an effort to cut $7.5 billion of annual costs. In its most recent earnings statement, Disney’s broadcast and cable TV businesses suffered a drop in revenue and profit, the result of higher programming costs and fewer subscribers on channels devoted to entertainment.

Novo Nordisk cuts Wegovy prices

Makers of the popular obesity treatments Wegovy and Zepbound are cutting prices for people without insurance.

Danish drugmaker Novo Nordisk said Wednesday that it will drop prices 23% for all doses of Wegovy. The new monthly price of $499, down from $650, takes effect immediately.

Novo said the new pricing is available to both the uninsured and people who have insurance that doesn’t cover the weight-loss drugs.

Last week, Eli Lilly said it would cut the monthly price of its starter dose of Zepbound to $349. The U.S. drugmaker also is making larger doses available for $499 through its self-pay program.

Patients start taking the injectable drugs at smaller dose levels and then increase the amount over time.

Wegovy and Zepbound are part of a GLP-1 class of treatments that has shown unprecedented results for helping people shed weight by decreasing appetite and boosting feelings of fullness. Sales of the drugs have soared.

Musk’s request on OpenAI switch denied

A federal judge has denied Elon Musk’s request for a court order blocking OpenAI from converting itself to a for-profit company but said she could expedite a trial to consider Musk’s claims against the ChatGPT maker and its CEO.

U.S. District Judge Yvonne Gonzalez Rogers ruled late Tuesday that “Musk has not demonstrated likelihood of success on the merits” in his request for a preliminary injunction. She offered to hold a trial in her California courtroom as soon as this fall, “given the public interest at stake and potential for harm if a conversion contrary to law occurred.”

Musk, an early OpenAI investor, began a legal offensive against the ChatGPT maker and CEO Sam Altman a year ago, suing for breach of contract over what he said was the betrayal of its founding aims as a nonprofit.

He escalated the legal dispute late last year, adding new claims and defendants, including Microsoft, and asking for a court order that would stop OpenAI’s plans to convert itself into a for-profit business.

Compiled from Bloomberg and Associated Press reports.