CNN’s profits, along with its ratings and reputation, are spiraling further into the abyss. The once-vaunted outlet is reportedly losing a historic level of revenue even as its new leadership is working to return the company to its former glory.
The network’s profits are trending below the $1 billion mark for the first time since 2016. This is yet another sign showing why CNN must move from being an activist media outlet and return to being a mostly-journalistic enterprise. This downward trend will only continue as it remains a propaganda mill for the Democratic Party.
The New York Times reported:
Projections from S&P Global Market Intelligence say CNN’s profitability is on a pace to decline to $956.8 million this year. That would mark the first time since 2016 that the network had dipped below $1 billion in profit, according to three people familiar with its operations.
CNN’s new CEO Chris Licht is already working feverishly to find new revenue streams while pushing the network to tone down the partisanship in its broadcasting. In fact, he made it clear that those still seeking to act as activists will no longer be tolerated at the company. At least one of the network’s on-air personalities has indicated he would continue slanting his coverage in favor of Democrats. During a conversation with some of his colleagues, media activist Don Lemon said:
“Speaking very soberly about the realities of America and American politics right now — we sit around and we talk about these things and we want to give this false equivalence to Democrats and Republicans. That is not where we are right now. Republicans are doing something that is very dangerous to our society and we have to acknowledge that. We have to acknowledge that as Americans. We must acknowledge that as journalists because if we don’t we are not doing our jobs.”
The network’s ratings began their decline after former President Donald Trump entered the political scene and it decided to become part of the “resistance.” Since then, under former CEO Jeff Zucker, CNN became an anti-Trump propaganda purveyor, which has turned off a large chunk of its audience. Its ratings fell even further after the former president left office. Without the Orange Man What Is Bad™, the outlet is floundering.
If CNN’s new leadership makes good on its promise to go back to more middle-of-the-road reporting, there is a chance it could reverse this trend. Indeed, it might be the only hope the network has left after it spent so many years operating as an arm of the Democratic Party. But still, there are no guarantees at this point. It just might be too late for this particular leopard to change its spots.