CNN Misses Revenue Targets by $100+ Million
The free market appears to be in agreement with a chant often heard at President Donald Trump’s rallies: CNN sucks.
According to a new report from the Wall Street Journal, the Airport Network is having as much trouble as the airline industry as of late.
According to their report:
CNN President Jeff Zucker survived loads of company intrigue since telecom big AT&T swallowed up the cable community’s mum or dad firm two years in the past.
Now that’s altering, leaving Mr. Zucker pissed off and his future on the cable information community unsure.
The 55-year-old’s contract expires subsequent 12 months and he hasn’t dedicated to extending his deal in conferences with WarnerMedia brass and communications with CNN workers, the individuals say.
Mr. Zucker additionally positioned massive bets on digital development, a few of which blossomed—the community’s fundamental web site expanded its viewers—and a few that fell flat.
AT&T doesn’t get away CNN’s outcomes individually. An individual aware of the matter stated the division has generated greater than $1 billion in annual revenue in recent times. This 12 months is proving more difficult. In the course of the city corridor assembly, Mr. Zucker stated he expects CNN to overlook its revenue goal by between $100 million and $120 million, as digital and worldwide promoting gross sales undergo in the course of the pandemic.
CNN has been among those suffering the worst from Trump Derangement Syndrome in the Trump-era, which has led to a number of notable blunders in their reporting.
- Ten days before Trump’s inauguration CNN pushed the now-heavily-discredited Steele Dossier, discussing the non-existent “pee tapes” 77 times in under a week.
- In June of 2017 they reported that Anthony “10 day” Scaramucci was involved in a Russian hedge fund under Senate investigation. The story was completley false and three reporters who published it left the network.
- In December of 2017 CNN published a story claiming Trump’s campaign received an e-mail from WikiLeaks with a “decryption key and website address for hacked WikiLeaks documents.” CNN reported on this on-air with the chyron “Emails Reveal Effort to Give Trump Campaign Wikileaks Documents.” As it would turn out, the e-mail went out in September 14, 2016, which is after that WikiLeaks information was available to anyone. CNN issued a correction but no one stepped down this time as their standards continue to deteriorate.
- In July 2018 CNN dropped the “exclusive bombshell” that Michael Cohen would tell federal investigations that President Trump knew of the infamous Trump Tower meeting before it took place. Michael Cohen would never do this, and the source of the claim was Cohen’s Clinton-loyalist lawyer.
- In February of this year, CNN reported that President Trump called the coronavirus a hoax, when in reality he was saying that the media pretending he wasn’t taking the virus seriously was the hoax. CNN was happy to deliberately quote him out of context and prove his point here, it seems.
That’s just to name a handful of examples – but with reporting like that, it’s no question why CNN is having trouble hitting their revenue targets.