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.
Greg
May 29, 2020 at 11:01 pm
Trump needs to go. He is not a unifier. He does nothing but insults anyone who disagrees with him. Saying that Twitter cannot suggest fact checks of his tweets is totally wrong.
We have checks and balances with three branches of government he still does not understand.
gandolf the White
May 30, 2020 at 5:35 pm
Greg what gullible, liberal, Demwit BS. The lying MSM puts out its BS and you swallow it.
Stephen gore
May 30, 2020 at 11:32 pm
Greg, can I now believe you do not like Mr. Trump? IF… The dems in the states NY,NJ, VA, PA,CA,MI,MN,OR,Wa IL would open their economies, your statement would more typical hog wash that can be gleaned daily on CNN and their sibling sta MSDNC. Most of the states who care about their people have already started on the road to recovery but you are blinded by your own hAte and stupidity to actually take some few minutes off your meth p.pie to figure this out.
Larry
May 31, 2020 at 1:13 am
Thank You President Trump and pantsonfiree for making us the laughingstocks of the whole world. President Trump can lie to you all and get away with them all day, it seems. But to most of us we can see that the President is a mean, untrustworthy bully! Jesus says to love your neighbor, President Trump says to deport your neighbor and make fun of him while you build a wall like the Communists did in Berlin! Must make you all proud! Repent now and turn away from the Devil, I will pray for President Trump and all of you. Your brother in Christ, Larry.
Robert Norris
May 31, 2020 at 5:15 am
Larry are you just plain nuts or do you just like swallowing you Trump hate BS. As for your belief that President Trump is a hater, I guess you were asleep when President Obama spews tons of racial hate since his first day in office and continues it even now.
Larry
May 31, 2020 at 11:55 am
Okay Robert, I’ll bite, show me one instance of where President Obama said anything racist or even mean?
Susy
June 1, 2020 at 2:19 am
Whatever but POTUS will be re-elected by a landslide
🙏HALLELUJAH 😇 “IN GOD WE TRUST”
That is all that matters.
Yayita
June 1, 2020 at 2:29 am
Larry, what about if we call you despicable is that hate? Yes right?, so you are the haters.
What about if when omama won in 2008, we decided to “resist” wiould that have divided the country? Yes right?, so you are the dividers.
Are you guys looney, you spat hate and division among us but blame POTUS for what you do, it is idiotic. You have lost your mind long ago and ate like zombies following your leaders hateful game. Thanks GOD November is close and POTUS will “WIN BIG” hopefully that event will make you to wake up.
Stephen Milkereit
June 1, 2020 at 3:26 pm
I would not trust Sleepy Joe to wipe my dogs ass. He is so much an idiod he does not know where he is or what he is saying. Goes to show how really stupid and uneducated demo rats are. No common sense period. In the military we called them educated idiots.
Cg
June 1, 2020 at 3:29 pm
CNN is like creepy joe,no one pays attention to the marlarky.
Trump 2020
Anita Bievenue
June 1, 2020 at 3:51 pm
We, unfortunately live in Illinois….we wish we could move but we would lose on the sale of our home big time because no one wants to live in Illinois.
President Trump is the greatest President we’ve had since Lincoln! We support him 100% and predict that he will win by a landslide if we can keep the cheating on the left to a minimum. Which is why it’s so important to encourage our states to not get carried away by voting by mail. It’s not necessary….as long as people can stand in line in Walmart and Home Depot, they can stand in line to vote…no problem. Those people who cannot can vote absentee. I see no need for wide spread voting by mail except that it would be easy to steal the election with wide spread CHEATING! We need to let our elected reps and senators know how we feel now…let them know that we don’t support vote by mail!
Political Observer
June 1, 2020 at 3:59 pm
God bless OUR PRESIDENT and all who voted for him in 2016. Nov. 3, 2020, we need to RETAKEHOUSE2020 #INCREASESENATE2020 re-elect #TRUMP2020 #MAGA #KAG #REDTSUNAMI2020
Lori Cosby
June 1, 2020 at 4:08 pm
Go Trump!!! Democrats lie and cheat! That’s why they can never be trusted in the White House. Look at all Obama is being caught doing during his term! The lies they keep spuing is exactly what they are doing. Straight up idiots to think the American people are to stupid to see it. Believe me, we see it all. Just keep believing people like Pelosi, Shummer, CNN, MSNBC, and don’t forget about Schiff, Comey, Brenner and many others!
Sam Lasley
June 1, 2020 at 4:20 pm
America has never been so divided as it is today. Our liberty has been stolen from us by our so called health experts, and democratic governors of failed blue states. President Trump has been, and is still trying to restore our lost economy, but George Soros, his financed Antifa, and other fools are rioting over the unlawful death of a black man they never knew. These are not protestors they are Soros paid anarchists.
steveo
June 1, 2020 at 4:23 pm
and greg you need to blow!either somebody or out your arse!
Sue
June 1, 2020 at 4:37 pm
I have 4 daughters. 2 are liberal and none of them are voting for Biden. The 2 liberal daughters are disgusted with Joe!!
Diane
June 1, 2020 at 5:18 pm
My father was brought up on a farm and had 13 brother & sisters. All of his family was demonrat. My mother came from a Republican family and Daddy turned Republican after they married. However all his brothers & sisters remained Democrats and their offspring became Democrats, yet for the 2016 & 2020 election they all changed to Republicans due to NOT liking obama or hillary. My family is a staunch Trump loving one. NO WAY would we vote for Biden! You’d have to be OUT OF YOUR MIND to vote for anyone as much of a screwball and is as touched in his talking/thinking {‘in the 20th century now’, “this is my wife (as he points to his sister) and sister (as he points to his wife)”, etc} to want some like that to be your POTUS making important national decisions for you.
Tommie
June 1, 2020 at 5:47 pm
I’m voting for Joe!!!!! I’m a Black Combat Vet and a Conservative!!! Joe said that he’s running for the Senate!!!! He also said that He will beat Joe Biden!!!! I believe him!!!! He has my vote!!!!
Ken
June 1, 2020 at 5:55 pm
One problem that I see is that in the news they will talk about a democrat that did something wrong for a minute or two and that is it ! They will not talk about Biden for the same things that they talked about trump. They also promote funding for the blue states like the democrats in the house and Polosi even with those states that were on the verge of filing for bankrupt Before the virus.
SGW
June 1, 2020 at 7:36 pm
Greg, Pay attention and think for your self.
If you pride yourself for pointing out unacceptable things about Trump, then fail to recognize scorched earth tactics, lies, fake charges thrown at Trump 24/7 for four years, then it is YOU who don’t understand.
Or you DO understand and don’t give a damn.
Ernst
June 2, 2020 at 10:24 am
CNN has done a tremendous change in the last few years. It was once a very respected source of news and event information. Today it is no more than a leftist political propaganda outlet. They are wrong about nearly everything and the relevant motivations. Sloppy reporting and biased analysis are their norm. Very sad. FIRE JEFF ZUCKER!
Len
June 2, 2020 at 11:02 pm
Oh great, now Greg have Twitter as his basis for fair and balance justice information source. . What a dangerous path Greg and hundreds like him are taking.
In regards to Acosta, our country has changed dramatically because of the lies the media has been feeding the people. I was going to say Acosta and CNN should be ashamed but they have no capacity for honesty or human feelings. They are selfish and put their and put their own agenda before America.
sharon
June 3, 2020 at 12:16 am
Greg’s got as much going for him as Joe Biden has. So yes Greg-help Joe Biden beat Joe Biden for President. Goofy is as goofy does.