They were once considered the “king” of network news.
But lately CNN has been more like the court jester.
And CNN executives just got the worst news of their lives when they saw these shocking numbers.
It’s no secret CNN has been on a downward spiral over the past decade.
The network’s ratings haven’t come close to matching those of Fox News, to the point where it seems that they’re not even trying anymore.
And lately, it’s only gotten worse for CNN, as the network’s shows have even failed to beat the ratings of cooking shows and infomercials at times.
But the latest news about the network has even CNN’s own multi-millionaire executives scrambling for a soft place to land.
In fact, things are so bad at the network that invented the 24-hour news cycle that their restructured parent company, Warner Bros. Discovery, is planning massive cuts across the board.
The news comes as CNN is reportedly on pace to miss annual profit expectations – both internally and on Wall Street – by a substantial, larger-than-expected margin, as their ratings continue to plummet.
The corporate-controlled media outlet’s profitability is expected to decline to just $956.8 million in 2022, which would be the first year since 2016 that the troubled network has seen its profits dip below the $1 billion threshold.
The New York Times reported that CNN’s adjusted profit expectations fall significantly short of its initial 2022 target of $1.1 billion, according two people familiar with CNN’s operations.
In addition, though it seemed they couldn’t sink any lower, CNN’s ratings have yet to find a new bottom.
This quarter, the network’s average primetime viewership has dropped to just 639,000, a whopping 27% decrease from the same time period last year.
Despite its considerable resources – and the fact that every doctor’s office in America plays it all day, every day – the network continues to place a distant third behind Fox News and MSNBC.
The Times reported that CNN has invested millions of dollars into its coverage of the war in Ukraine, all in the hopes it would increase viewership.
That has not happened.
And the network is still paying costs related to its now-defunct CNN+ streaming service, which includes the salary of former Fox News anchor Chris Wallace.
The streaming service was highly touted and promoted heavily by the network, but as it turns out, no one wants to pay for the same leftist drivel they already weren’t watching for free.
The little-watched streaming service lasted just a month before it became one of the very first casualties of the Warner Bros. Discovery merger after executives shut it down back in April.
All expectations indicate Warner Bros. Discovery will enact drastic cuts and layoffs across its operations – especially at CNN – in the coming weeks, as CEO David Zaslav cleans house and fulfills his pledge to find at least $3 billion in savings for shareholders.
That process has already began, as Warner Bros. announced it won’t release its latest D.C. Comics franchise, Batgirl, despite reportedly pouring $70 million into its production, or a new Scooby Doo movie it reportedly budgeted $40 million for.
The studio also canceled the disaster of a TBS show that is Full Frontal with Samantha Bee.
Full Frontal’s ratings also consistently under-performed, as its disgusting host made increasingly nasty, bizarre, radical left-wing pronouncements, like calling Ivanka Trump a “cunt” and urging her viewers to harass Supreme Court Justice Samuel Alito.
Of course, CNN’s new president, Chris Licht, told employees back in May that he didn’t expect Warner Bros. Discovery to enact more layoffs at CNN after the shutdown of CNN+.
But that looks like quite the empty promise now.
FluffyPillowFive
January 30, 2020 at 8:43 pm
This is a really silly thing to get hung up on and it won’t change anybody’s mind.
Another desperate attempt by the left to try and make this about race. Pathetic.
Peter
January 30, 2020 at 9:25 pm
Is the Pope catholic? Don Lemon is probably the biggest main stream racist since Eric Holder.
Theodore Skibinski
January 30, 2020 at 11:23 pm
They have abused the race argument and We,the People see desperate acts failing to win voters ….instead ,alienating those that might consider a legitimate argument /If they could find one .
Tommie Walker
January 30, 2020 at 11:25 pm
REALLY??? SMDH!!!
Cecil
January 30, 2020 at 11:30 pm
CNN – yawn
Phil F
January 30, 2020 at 11:30 pm
The racism charge means nothing anymore, it’s a empty worthless accusation.
Being white is not an affront or something to be ashamed of.
Toobin is the real racist who can’t abide diversity of opinion. He’s also fearful that black America has awakened to the fact that democrats are not black America’s friends.
Spike
January 30, 2020 at 11:37 pm
I don’t think CNN as a “News Organization” has any principles what ever! They are so anti Trump that there doesn’t seem to be even one program that simply reports and analyzes the “News”. This is a besmirched time in history for the First 24-hour news entity! What makes is really bad for our country is that, based on their foot in the door first and their early days reputation, I understand that they are about the only source of US News that the rest of the world hears from and thus if they don’t have a totally skewed impression of Trump’s very successful term in office, it is because they have the intellect to look further than their CNN feed.
John
January 30, 2020 at 11:39 pm
The best thing that could happen to this country is that people quit looking at the color of one’s skin or if a person is man or woman. Appears to me that the Left is the racist organization.
Terry P. Keenan
January 30, 2020 at 11:46 pm
The use of the Racist card is so old that nobody even hears it – Hey CNN (Clearly NOT News) do you remember the story that we learned as children…”Cry Wolf and The Sky is Falling”…That’s YOU!
John L
January 30, 2020 at 11:51 pm
Is CNN supposed to be real news? I don’t watch much TV and only have network Channels. I’ve only seen CNN a few times, and on those few occasions I knew from the news that I’d read on the internet, that what they were reporting wasn’t real. Doesn’t CNN mean comedy news network? Aren’t they like SNL news only they are 24 hours a day instead of just Saturday night? Isn’t The Key and Peele show one of their segments? Help, I’m so confused right now. I just talked to a guy, while waiting in line at the grocery store who was adamant that they are a serious news channel. I argued him down in front of witnesses. If it turns out that he was right, I’ll have to find somewhere else to get grocery’s for a while, and the next closest store is an hour away????
Han Solo
January 30, 2020 at 11:59 pm
CNN IS racist…against people who care for this country and the Constitution.
Will Triebel
January 31, 2020 at 12:14 am
The left and their ‘diverse’ anti-white racists. They claim diversity in different skin tones, but for the true diversity, of thoughts and beliefs, you will not find a more bigoted, intolerant bunch. Hypocrites, each and every one!
Jono
January 31, 2020 at 12:16 am
I guess no one cares, but…..I’m offended……… the situation reversed the left would be screaming……………..
Vincent Lovely
January 31, 2020 at 12:39 am
The left will try to find anything to distract from their nonexistent case for their coup attempt.
William Burke, Jr.
January 31, 2020 at 1:07 am
Jeffrey Toobin is an Idiot. That’s why he works for CNN. Don the bomb Lemon is a gay racist.
David
January 31, 2020 at 1:35 am
I can’t believe the garbage some people choose to air. CNN should be removed from all media outlets.
WhiteFalcon
January 31, 2020 at 2:52 am
I have a wake-up call for the Corrupt Nonsense Network: Guess what CNN, relative to all your lying and sexist and racial bull sh*t about conservatives and President Trump, IT AIN’T WORKING. Everyone knows you are worthless. More people watch the Micky Mouse Club than CNN. You are dead meat.
George Jones
January 31, 2020 at 10:26 am
This is getting better every day . Our economy keeps rising, Trump ratings are rising, everything is getting better and Guess What: IT IS BEING DONE “WITHOUT THE DEMOCRATS” SO that tell us the democrats are not needed or believed so lets vote them out in 2020. They have one capable of being a politician so erase them from our government.
Jim1937
January 31, 2020 at 2:06 pm
That old race card is worn so thin you can read (I use the term loosely) a newspaper through it.
erik palmer
February 1, 2020 at 1:49 am
it’s about choosing the best team for your side , not racism. Before you accuse racism look at your host don lemon the other night putting down trump voters as southern white trash , pretty funny coming from a guy that chugs balls
JerryDV
February 2, 2020 at 2:14 pm
CNN’s, along with the Democrats, concern with diversity is amazing. Diversity, when it comes to getting the best available person for the job has little relevance. If you needed a quarterback for your football team, would you chose Brady or would be diversity correct as CNN or Dems would insist, pick Colin Kaepernick?
AK Lady
February 3, 2020 at 3:41 am
Trump is a legally-documented racist.
United States v. Trump, NY, 1973
His remarks about Mexicans and Muslim clearly evidence the fact that he remains a bigot.