According to news reports, CNN is undergoing a ratings crisis and some profit concerns. This is the story:
On Tuesday, the New York Times reported that CNN’s yearly profitability is expected to decline to $956.8 according to projections from S&P Global Market Intelligence.
CNN’s annual profits haven’t sunk below $1 billion since 2016, the year Donald Trump beat Hilary Clinton in the presidential election and subsequently became a prominent figure in their commentary. “Ratings are down from their Trump-era heights across cable news, but declines at CNN are particularly pronounced,” the Times noted.
CNN viewership is about 639,000 in the prime time hours slot, which is down 27 percent from last year. More people on average watch MSNBC, whose viewership is down 23 percent, and Fox wins over both networks and is up about a percentage point in overall viewers.
Translation: The bean counters are worried or they don’t have enough beans to count. So the executives are looking to diversify, as they say in business schools. They want to take the brand to China, according to the aforementioned story:
CNN brought on Chris Marlin, a lawyer with no cable news experience, who suggested “striking advertising deals with major tech companies like Microsoft,” “…selling sponsorships to corporate underwriters,” and “extending CNN’s brand in China.”
To be honest, I don’t care because I don’t watch CNN. The story of CNN is easy to understand. They invested themselves totally in the anti-Trump meme and then the Orange Man left the front pages. They have no one to hate anymore. They have to report on the Biden presidency and inflation, recession, etc. It was a lot more fun when Jim Acosta was sent to the press conferences to argue with President Trump. “Those were the days my friend, we thought they’d never end” is what the bean counters are singing over there.
So who knows hat the future holds for the “most trusted name in news.” Maybe the future is in China. If so then all they have to do is make it the China News Network. It all fits so neatly. They can move the headquarters from Atlanta to Peking and put a mask on all their correspondents to fight the pollution or whatever virus is happening over there.