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    Report: CNN Profits Decline to Lowest Level in Years, Sending New Boss in Search of Answers

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    The New York Times reported on Tuesday that executives at CNN’s parent company are battling to determine a new direction for the network amid dwindling viewership and the lowest revenues in years.

    With former President Donald Trump mostly absent from the political scene, CNN has struggled to keep a viewership that previously tuned in for a steady stream of partisan information directed against Trump.

    This quarter, its average nighttime audience has decreased by 27 percent, to 639,000.

    According to the Times, the network’s numbers behind even those of MSNBC, whose primetime viewership has declined by 23 percent.

    Fox News, the only significant media outlet in the United States that is often hostile of President Joe Biden, has boosted its primetime audience by 1 percent compared to 2021.

    The Times said that CNN’s executives now anticipate a profit of $950 million this year, significantly below the previous goal of $1.1 billion.

    That would be the network’s lowest annual earnings since before it rebranded itself in 2016 with nonstop criticism of Trump.

    After combining with CNN’s old parent firm, WarnerMedia, this year, executives of the media conglomerate Discovery have attempted to steer CNN in a new direction.

    Axios claimed in February that Warner Bros. Discovery management wanted CNN to avoid the network’s “red-hot liberal opining” and instead focus on real reporting.

    According to a June article, some of the network’s most political analysts, like Brian Stelter and Jim Acosta, are on precarious footing.

    More on this story via The Western Journal:

    Chris Licht, an experienced television news executive appointed as CNN’s chairman after the departure of Jeff Zucker, has faced questions about his long-term plans for the network.

    Some of Licht’s advisers have suggested that CNN sell sponsorships to tech corporations and other advertisers, potentially jeopardizing the network’s claims of editorial independence free of corporate influences, the Times reported. CONTINUE READING…

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