Just when staffers at CNN thought the news giant’s path to the future was becoming more clear, new fog has set in. In recent weeks, the Warner Bros. Discovery outlet appeared to have found its groove.
Yes, its linear ratings are down noticeably from the era when it won notice for its aggressive coverage of President Trump’s first term, and there’s serious questions about whether they will ever come back. But the company appeared to be making some gains with digital audiences with its recently launched “CNN All Access” subscription service, where CNN has been testing new programming formats. On the traditional side, despite the viewership challenges, CNN has seen personnel like Abby Phillip and Harry Enten gain some traction.
Discovery projected in a filing with the U.S. Securities and Exchange Commission earlier this year that CNN will generate $600 million in profit in 2026 on $1.8 billion in revenue. Now all its recent work could be for naught.
A new corporate parent, Paramount Skydance is set to take the reins of CNN in October, and with that change of control could come entirely new goals — and means of executing them. Even Mark Thompson, chairman and CEO of CNN, seemed to not know much about next steps. The mood at CNN is “like a funeral,” says one person familiar with the operation.
CNN personnel have reason to worry. Paramount’s management of CBS News has been controversial, and has not been good for the business of the news unit. Changes made under Bari Weiss, installed last year as editor in chief, have brought unnecessary scrutiny to news reports, and anchors have made public entreaties on Instagram when people post notes suggesting that Weiss’ background as a digital entrepreneur and provocative opinion writer have muddied the newsgathering at the network.
Tweaks made at “CBS Mornings” and “CBS Evening News” are still too nascent to make final judgement, but both shows continue to lag their rivals in the ratings, with the morning show suffering significant erosion. Weiss’ decision to overhaul “60 Minutes,” widely considered the jewel of CBS and of TV-news overall, has left the venerable newsmagazine open to criticism and backlash. Whether Paramount can serve as a good steward for CNN remains to be seen.
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