CNN’s new parent company, Warner Bros. It is reportedly on track to significantly lower its revenue target amid ongoing declining ratings. Discovery plans to reduce its media resources.
Left-leaning CNN’s earnings are expected to drop to $956.8 million this year, marking the first time since 2016 that the network’s revenues fell below $1 billion. Newspaper “New York Times A report that mentions three people familiar with its activities.
That amount falls well short of the network’s original profit target of $1.1 billion for 2022, two people familiar with CNN told the newspaper.
In addition, CNN’s ratings continued to decline, dropping 27 percent from last year to 639,000 in prime time this quarter. The network remains in third place behind MSNBC and Fox News.
SCOOP – CNN revenue fell below $1 billion for the first time since 2016 due to declining ratings, sources say: https://t.co/10Fw7iofrp
— Ben Mullin (@BenMullin) August 2, 2022
Sometimes He reported that CNN spent millions of dollars watching the war in Ukraine and continued to pay some expenses, such as the salaries of the now-defunct CNN+ affiliate Chris Wallace and Audie Cornish.
CNN+, Warner Bros. He was one of the first victims of the merger. Discovery The highly respected but underrated streaming service lasted just a month before Discovery executives shut it down in April.
According to Breitbart News, Warner Bros. Discovery is expected to implement serious company-wide cuts and layoffs in the coming weeks, with CEO David Zaslav cleaning up with promises of at least $3 billion in savings.
Austerity is already being felt at Warner Bros., which has recently announced that it will not be able to make $70 million. bat girl superhero movie. The studio also canceled the TBS show. Full front with Samantha Bee – The rival host is a persistent ratings loser, making increasingly irrational radical left statements, such as calling Ivanka Trump a “hack” and urging her viewers to harass Supreme Court Justice Samuel Alito.
Warner Bros. it has also witnessed the departure of many senior executives, including chief director Toby Emmerich.
New CNN chief Chris Licht told his employees in May that he wasn’t expecting Warner Bros. Discovery will address new CNN layoffs after CNN+ shuts down.
Source: Breitbart
