CNN hitting rock bottom, profits projected to dip below $1 billion for first time since 2016

Liberal mainstream media network CNN is hitting rock bottom as ratings have collapsed and their profits are down to record lows. That is particularly welcome news for former President Donald Trump who has been waging war against the network ever since he entered politics. 

A report from the New York Times found that “The network is on a pace to drop below $1 billion in profit for the first time in years, according to people familiar with its operations, amid steep declines in TV viewership.”

CNN has been in a tough spot for years and after multiple scandals, an organizational overhaul appeared to be the key to future success.

Jeff Zucker, the former President of CNN, abruptly resigned following damaging scandals. Chris Licht, who worked as CBS’s executive vice president of special programming, was brought in to effect a culture change and pull the network out of a tailspin.

Unfortunately, Licht hasn’t been able to do much. The report from the New York Times continues, “Now, three months into Mr. Licht’s tenure, the network finds itself facing big questions about how it can continue to expand its business with its moonshot streaming service dead and the traditional TV business in structural decline.”

CNN’s profit is projected to drop below one billion for the first time since 2016.

Interestingly enough, that was the year that former President Trump’s wildly successful campaign boosted him into the White House.

Indeed, a big part of CNN’s problems stems from the fact that Trump has been out of the limelight. Trump was arguably CNN’s greatest asset when it came to ratings and without him, the network is struggling badly.

It remains to be seen what exactly Licht will do to pull CNN back above water. It is entirely possible that CNN as a brand is simply too damaged to reach the heights it enjoyed before.