CNN CEO Chris Licht started conducting a business review of the news network when he agreed to take the job in April.
That evaluation wrapped up last week, according to people familiar with the matter, and CNN employees are about to find out Licht’s conclusions.
Licht faces many challenges at CNN. Like all cable news networks, the business is shrinking. CNN makes money off advertising and pay-TV subscriber fees. But as millions of Americans cancel traditional pay TV each year in favor of streaming services, CNN almost certainly can’t raise subscription rates at a fast enough clip to make up for declining viewer numbers.
CNN’s profit is set to drop below $1 billion this year for the first time since 2016, when Donald Trump was elected president. Parent company Warner Bros. Discovery’s valuation has nearly been cut in half this year as investors have lowered their expectations on global streaming subscriber growth and macroeconomic pressures have pressured advertising revenue.
Licht has been given a mandate from Warner Bros. Discovery CEO David Zaslav to transform CNN, which the network boss is internally referring to as a “right sizing” of the business. Many of Licht’s job cuts are still to come this year, according to people familiar with the matter, who asked not to be named because the decisions are private.
Hours after this story was published, Licht sent a memo to all staff confirming the end of his six-month business and signaling additional layoffs will be coming. more
“Employees are nervous” as well they should be. The chickens coming home to roost have been cavorting around for a long, long time without adult supervision.
The Trump Effect, also known as the moving finger writes has found so many of the Satanic mighty and destroyed them.
If you don’t see the will of God wrapped up in that bombastic billionaire your are not paying attention. The Lord God Almighty has always used imperfect men to institute his will on earth.
Satan only protects the top of the food chain, the media sycophants are completely expendable. I belive the Lord God Almighty is setting the conditions for the final “Come to Jesus” opportunity for America before the end times.