The financial fallout to Louis C.K.'s acknowledgement of sexual misconduct has begun, with FX Networks and FX Productions announcing they will cut ties to the comedian, stripping his title as executive producer and taking away any compensation for the four projects they were working with him on.
In a statement, FX Productions says it will cancel a deal it had with C.K.'s production company, Pig Newton. The four projects in the works were "Better Things," ''Baskets," ''One Mississippi" and "The Cops."
FX Networks and FX Productions say C.K. was a "professional" partner over the past eight years but "now is not the time for him to make television shows."
The announcement came hours after C.K. said recent allegations of sexual misconduct are true and he released a statement expressing remorse about using his power "irresponsibly."
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