According to the Wall Street Journal, CNN would be on track to meet its revenue targets of 100-120 million this year, a figure that is relevant both in terms of dollars and percentages of revenue, considering that the network expects to generate just under $800 million in advertising revenue this year.
Recent reports also point out that CNN may be sold due to multinational conglomerate AT&T having a massive $150 billion debt that made it financially unstable.
Telecom giant AT&T took over the cable network’s parent company WarnerMedia two years ago.
Jeff Zucker has overseen CNN for seven years as president, guiding its descent into a wholly biased and Trump-hating fake media.
As Fox News‘ senior correspondent Charles Gasparino said, the network risks losing its audience of Trump haters should the president not get re-elected, increasing the pressure to meet revenue goals.
“CNN does not have Donald Trump to kick around anymore, and their ratings will take a hit,” Gasparino told Tucker Carlson Tonight.
“AT&T is a screwed up company and … CNN like a lot of media companies, it may have hit its peak, hating Trump,” added the senior correspondent from Fox News, noting that: “This rumor is real.”
Bankers told Fox Business that while the chances of a short-term deal on the sale of CNN are still unclear, there is a high probability that the sale with billionaire Jeff Bezos will go through.
Last October, Gasparino revealed that there were “hot and heavy” speculations circulating on Wall Street about the interest of Bezos, executive president of Amazon, in acquiring CNN.
Speaking to Fox Business senior correspondent Neil Cavuto, Gasparino noted that there is “pretty hot and heavy investment banking speculation that CNN might be for sale, and that CNN’s buyer could not be anyone other than Jeff Bezos,” reported Mediaite.
“CNN has refused to comment, although people from AT&T, which is CNN’s parent company, said they have not yet received any interest from Bezos,” said Gasparino. He added, “Still, the reason we report stories like this deal is that it may be a harbinger that something could happen in the future.”
CNN is one of the major television networks that President Trump has strongly criticized for broadcasting ‘Fake News.’
In late 2017, CNN broke a story claiming that Donald Trump’s campaign had received an email from Wikileaks with a “decryption key and website address for hacked WikiLeaks documents.” The information was broadcast on-air, but it turned out that the email had been sent in September 2016, when the Wikileaks information was available to everyone.
In February, CNN reported that President Trump had called the coronavirus a hoax when he said that the media speculated that he was not taking the virus seriously, which would be a hoax.