It has been claimed that one of the most well-known brands in American news media is preparing to split with a number of its prominent figures.
CNN is in a vulnerable financial and operational situation as a result of a sharp drop in ratings. Sources close to the network claim that these impending adjustments are part of a broader plan to rethink CNN’s programming strategy and regain its competitive advantage in a media environment that is becoming more and more fragmented.
Following the election, CNN CEO Mark Thompson is expected to announce a comprehensive reform plan for the network, which may involve hundreds of employees being laid off. After being shocked by Trump’s resounding win, many CNN journalists now have to face the unpleasant truth that Thompson’s ambitious reorganization of the network may jeopardize their own jobs.
Hundreds of workers around the company will be affected by CNN’s upcoming layoffs, including some whose skills in TV production won’t necessarily be required in the new digital-first environment, according to Puck News. “Many divisions will be reduced or eliminated, redundant assignments will be dropped, and reporters and correspondents will be asked to take on more of the responsibilities that were previously handled by teams of producers and production assistants.”
It’s also possible that some of the on-air talent will be impacted. In order to support Thompson’s new digital-first company, CNN also intends to add new roles throughout the company. According to one source, the change could even lead to a net increase in the number of jobs. We shall see. A representative for the network chose not to comment. Insiders, meanwhile, speak of a high level of stress and anxiety.
According to recent reports, prominent CNN personalities like Anderson Cooper continue to earn large salaries despite declining viewership. Cooper makes $20 million a year. According to reports, Erin Burnett and Kaitlan Collins make $3 million and $6 million, respectively. Despite earning $3 million and $7 million, respectively, longstanding anchors Jake Tapper and Wolf Blitzer reportedly had their bids for rises denied. After years with CNN and a rumored salary of $8.5 million, veteran journalist Chris Wallace revealed on Monday that he would be leaving the network.
On election evenings, CNN is no longer as dominating as it once was. For many years, CNN has been the preferred network for live election coverage, and in 2016, it dominated the field with an astounding 13.3 million primetime viewers. However, the network’s traditional TV viewership has drastically decreased under Warner Bros. Discovery and previous CEO Chris Licht, with nightly averages only surpassing half a million people. The trend was highlighted by this year’s election night statistics, which showed that CNN only attracted 5.1 million primetime viewers, falling below MSNBC for the first time ever and placing higher than just CBS among the big networks.
CNN has moved its emphasis from traditional cable to digital and streaming platforms under CEO Mark Thompson’s direction, with the goal of expanding in these markets while cautiously handling cable’s downturn. Although some saw this as a diversion from its dwindling TV viewership, CNN boosted its digital reach after Fox News celebrated its ratings lead, claiming millions of online interactions as evidence of its strategy shift.
It “doesn’t camouflage the fact that their linear number was an embarrassment, and that Licht and now Thompson have not been able to get the brand back to where it was under Zucker,” a seasoned cable news insider told Puck News, eloquently comparing it to “trying to put 10 pounds of shit in a 5-pound bag.”
The recent trend of media disruption, which has caused networks to shift from traditional formats to a digital focus, is followed by CNN’s reorganization. Even if it means making difficult sacrifices and changing its content model, Thompson’s strategy seeks to future-proof CNN.