It’s not good news for CNN. Just as the fake news network’s new parent company Warner Bros Discovery is set to make radical cuts across all of its media outlets, the suffering CNN is going to miss the mark for profitability by a significant margin.
This year, the network is set to watch its profitability drop to almost $957 million. This will be the first time since 2016 that the Democrat sycophant outlet dropped under $1 billion, according to a New York Times report.
CNN’s initial 2020 target was $1.1 billion according to two people familiar with CNN’s numbers who told the Times.
They have no one to blame but themselves. Think of their business model. Since 2016, CNN became 24/7 trashing President Donald Trump in order to get rid of him. Now he’s gone, and the hosts they have don’t know how to do news that isn’t personal opinion about their hatred for Trump. Not that the collective clown car of personalities there ever did journalism in the first place, which is why they can’t pivot to where they need to go. They’re stuck with Trump Derangement Syndrome.
While CNN continues to come in 3rd behind Fox News and MSNBC, their ratings continue to plummet. They dropped 27% from a year ago down to 639,000 this quarter in primetime.
CNN is still paying bills for the CNN+ disaster that lasted about the average lifespan of a fruit fly mking it difficult to believe that some bozo got the idea that people who didn’t want to watch the free network would shell out money to watch CNN+. Ha! According to the Times, that and the money they spent on the war in Ukraine has the bean counters at Warner Bros Discovery’s attention.
In the coming weeks, the executives are expected to authorize significant cuts in budgets and layoffs across the corporation. CEO David Zaslav has promised to find at least $3 billion in savings by cleaning house across the board.
Besides holding off the release of the “Batgirl” movie, a $70 million hold in the ground, the company canceled the TBS show Full Frontal with Samantha Bee, a known ratings dog whose political speechmaking host went full frontal nuts soing things like calling Ivanka Trump a “cWORD” on the show and encouraging viewers to harass Supreme Court Justice Samuel Alito.
Back in May, Chris Licht, CNN’s new head honcho told the staff he doesn’t think Warner Bros Discovery will hit the network with more layoffs after they closed the doors at CNN+. I guess it’s always important to have dreams.