Report: CNN Profits Plunge Below a Billion, Ratings Tank as Warner Bros. Discovery Plans Drastic Cuts

Posted 6 days ago

From WWW.BREITBART.COM

CNN is reportedly on pace to miss its profitability target by a substantial margin amid a continued crash in ratings just as the network’s new parent company, Warner Bros. Discovery, is planning to enact drastic cuts across its media properties.

The left-wing CNN’s  profitability is expected to decline to $956.8 million this year, marking the first time since 2016 that the network had dipped below $1 billion in profit, according to a New York Times report that cited three people familiar with its operations.

The amount falls woefully short of  the network’s initial 2022 profitability target of $1.1 billion,  two people familiar with CNN’s operations told the newspaper.

In addition, CNN’s ratings continue to sink, dropping to 639,000 people in primetime this quarter, which represents a 27 percent decrease from a year ago. The network continues to place a distant third behind MSNBC and Fox News.

SCOOP — CNN is on pace to dip below $1 billion in profit for the first time since 2016 amid crashing ratings, sources say:https://t.co/10Fw7iofrp

The Times reported CNN has spent millions of dollars covering the war in Ukraine,  and is still paying some costs related to the now-defunct CNN+, such as the salaries of  Chris Wallace and Audie Cornish.... (Read more)



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