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.
Davey
March 26, 2020 at 10:22 pm
Jeff Dunham’s newest character. President Joe Biden.
Dennis B Anderson
March 26, 2020 at 10:30 pm
Wow, To learn how to cough. That is the most constructive thing you have ever done in your entire life. Tell us how do you feel about that Joe.You have lived to long.
Jan13
March 26, 2020 at 11:00 pm
Can you see a President Biden going against Putin, Kim, etc? I shudder when I think about it.
wil delito
March 26, 2020 at 11:09 pm
Clinton News Network? LOLOOLOLOLOL
Craig Michael Vandertie
March 26, 2020 at 11:17 pm
For crying over the diced onions coughing or blowing your nose into your elbow does not catch squat, unless you are going to be putting your paws all over everything before you have an opportunity to wash them I would recommend the hand unless you want your germs flying everywhere.
Just like this new way of greeting people the Democratic party came up with but criticized Pence for greeting the governor of WA that way, it was the latter that extended and put up his elbow for Pence to bump and not vice versa.
Carl C.
March 27, 2020 at 12:08 am
Talk about that gaffe. He hasn’t said a coherent thing since the days with Obama and before. Trump is right. Obama picked up off the trash pile and made hm his vice president so he would follow him like the lemming he is.
Amelia
March 27, 2020 at 1:32 am
DEMONRATS put Demented stupid Biden in a LOCKED ROOM, so he can not tweet anymore dangerous
Misinformations about the coronavirus pandemic
WhiteFalcon
March 27, 2020 at 1:44 am
Biden is incompetent on his best day. The communist-democrat party really has no one to run in the upcoming election. They are worse than pathetic.
Greg
March 27, 2020 at 2:05 am
Gosh, are you telling us Trump makes any sense? A very experienced doctor explains what is happening and then Trump says something different because he has a gut feeling.
Dave Conrad
March 27, 2020 at 5:36 am
President?……REALLY?????
Stephen
March 27, 2020 at 8:23 am
Democrat party is corrupt from top to bottom. Dementia Joe is a perfect example of a corrupt, lifelong politician. To be a Democrat in 2020 is to be a person in dire need of a lobotomy.
John J
March 27, 2020 at 10:42 am
This Alzheimer’s ridden moron should ge in an institution
william
March 27, 2020 at 3:59 pm
Jan13 Realize this,,,,,,,,,,,,,,,,,,,,,, joe”I don’t know where I am” biden with the presidential “FOOTBALL”….
Kent
March 27, 2020 at 4:09 pm
greg is another of the infected hate Trump love joey biteminehole millennials that are hoping that either joey mental midget or the bernhole win in November..
Jay
March 27, 2020 at 6:25 pm
Joe is doing the best he can with the equipment he has at his disposal, which isn’t much A wore out body, a diminished mental capacity, and also look at who he learned from, the DO NOTHING President who talked much and did nothing constructive. The best Obama could provide was telling Nancy Pelosi to get in front of the microphone and say, “We have to pass this bill to see what’s in it.” And we still, to this day have not been told the truth about anything since that time. Medical insurance for low income people dirt cheep, but they cannot use it until they have paid an insane deductible, so, old Joe Citizen becomes John Smith in the emergence room and we are still paying his medical bills and he has yet to use his worthless medical insurance. Joe Biden is just unaware of facts and doesn’t know where to find them, but Obame knew and was an expert at lying to get his way..
Cheryl Jackson
March 28, 2020 at 10:57 pm
They are BOTH IDIOTS
Anita Boedecker
April 1, 2020 at 5:45 pm
I would be scared to death if Biden was the President now or would become the President in the future. I feel sorry for the man and wonder why his wife, his family, his staff don’t shield him from the press. Allowing his comments is making him a “laughing stock” among journalists and reporters everywhere. I can see the Democrats continuing to support him BUT choosing a stronger candidate as his Vice President and able to step in later (probably very soon) and remove him from the presidency so the second-in-command could step in with all of his/her leftist agendas.