CNN is dying. Its president, Jeff Zucker, was just fired. (Or, rather, he “resigned.”) The network’s viewership is plummeting, and fewer than 500,000 people on average tuned in last month. Advertisers don’t send their dollars there much anymore, and the “stars” the network once had either have been removed for cause or caught up in sex or other scandals.
Chris “Fredo” Cuomo threatened to burn the place down after getting fired last year. Why does the parent company—AT&T, a telephone megacompany—put up with it? CNN is a drag on the parent company’s earnings, a thorn in its side, and a hit on its reputation. Wouldn’t a rational actor cancel the network altogether or sell it off and be done with it? With $150 billion in debt, no wonder AT&T decided to sell the ailing network to the Discovery Network. AT&T will no doubt benefit from getting out of politics.
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