Skip to main content
WeLoveTrump.com may receive compensation from affiliate partners for some links on the site. Read our full Disclosure here.

CNN In Dire Straits: Ratings Plummet, Profits Fall Below $1 Billion For First Time Since 2016


2,867 views

Things are continuing to get worse for America’s leader in fake news, CNN.

A New York Times published report shed new light on the network’s woes.

Plummeting ratings are only half the story, as CNN is on pace to see their profits drop below $1 Billion for the first time since 2016.

CNN must really miss the boost they got from President Donald Trump

Since shutting down CNN+ after less than one month, the news network has been in a freefall.

FOX News reports on CNN’s failures:

The New York Times published a report Tuesday highlighting the recent woes of CNN.

“The network is on a pace to drop below $1 billion in profit for the first time in years, according to people familiar with its operations, amid steep declines in TV viewership,” the New York Times reported.

The Times noted that CNN’s new chairman, Chris Licht, told employees not to concern themselves with ratings at the start of his tenure.

Our friends at the New York Post have more details on CNN’s freefall:

The cable news network’s profitability is on pace to decline to $956.8 million this year, according to projections from S&P Market Intelligence. That’s well short of the company’s internal target of $1.1 billion, according to the New York Times, which reported earlier Tuesday on the projections.

CNN parent Warner Bros. Discovery reports earnings on Thursday, but it is not expected to break out CNN’s financials or provide further detail. A rep for the company did not return requests for comment.

Warners Bros. Discovery quickly shuttered the fledgling CNN+ streaming service on April 30, less than a month after it launched. Licht started his job at CNN a day later, breaking the news to hundreds of newly hired CNN+ employees who were brought on to build up the service, which was expected to cost the company $1 billion.

According to the report, Licht hired Chris Marlin, a longtime friend who was recently an executive at the Florida homebuilder Lennar, to come up with ways to bring in new revenue.

The only question is:

How much further is CNN going to fall before they hit rock bottom?

It’s funny how closely CNN’s ratings are tied to Joe Biden’s…



 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!