News Network Prepares Budget Cuts
CNN, one of the world's most well-known news networks, could soon be seeing a major shakeup as the network's new CEO, Mark Thompson, reportedly plans deep budget cuts in an attempt to boost ratings. According to sources, a number of longtime CNN employees and hosts could soon be out of a job as a result of the planned changes.
In recent years, CNN has struggled with declining ratings and has fallen to its lowest point since 2014. The network is particularly struggling with the crucial 25-54 age demographic, which is turning to other news sources for their information. As a result, Thompson is reportedly focusing on cutting costs and shifting CNN to become a more digital-first provider.
According to In Touch, CNN's highest-paid on-air talents could be at risk of losing their jobs, given the network's efforts to reduce its budget. One source stated, "Anderson knows he's on the chopping block because he makes a whopping $20 million a year. He's already started looking for a new gig!"
Other names mentioned as possible targets for budget cuts include Chris Wallace, who currently makes $8 million, and Jake Tapper, who makes $8 million and is under contract through the 2024 election.
However, not everyone is convinced that CNN's budget cuts will result in major personnel changes. A spokesperson for Jake Tapper has denied the reports, stating that Tapper is committed to his contract with CNN.
The planned shakeup comes on the heels of a number of changes at CNN. In 2022, the network's president, Jeff Zucker, announced his resignation, and CNN went through a number of changes under the short tenure of former president Chris Licht. These changes included the cancellation of the network's longest-running program, Reliable Sources, and the departure of host Brian Stelter in August 2022. Additionally, White House correspondent John Harwood left the network in September of that year as Licht sought to make major changes.
The most notable departure from CNN was that of Don Lemon, who was fired in April of this year. Lemon had a tumultuous few months at the network, being demoted from his primetime hosting gig and ultimately leaving CNN altogether. His departure came after making controversial comments about Republican presidential candidate Nikki Haley.
Despite these changes and the reported budget cuts, it remains to be seen what impact they will have on CNN's ratings. The network has been through numerous shakeups in recent years, and it is unclear if Thompson's plans will be successful in turning things around for CNN.
Regardless of the outcome, it is clear that CNN is facing a challenging time as it tries to keep up with the rapidly changing news landscape. With more and more people turning to digital sources for their news, traditional news networks like CNN must adapt and find new ways to stay relevant. It remains to be seen what the future holds for CNN, but one thing is for sure: the network is in the midst of major changes that could have a significant impact on its future.