CNN is having a really unhealthy day.
A jury in Florida simply sided with a veteran who accused the community of defamation, which is going to cost them $5 million in the short term and doubtless much more when the punitive damages are lastly determined.
To make issues even worse, the trial revealed that CNN has misplaced lots of of tens of millions of {dollars} in income in recent times.
It’s only one extra humiliating second in an already terrible scenario for them.
The New York Post stories:
Scores-starved CNN’s income dropped roughly $400 million in three years: court docket data
CNN’s income tanked roughly $400 million in three years, based on monetary metrics shared on the community’s defamation trial on Friday.
Throughout the case, which concluded Friday, awarding Navy veteran Zachary Younger $5 million in damages, a forensic economist revealed that the ratings-challenged community introduced in roughly $2.2 billion in income in 2021, $2 billion in income in 2022 and $1.8 billion in 2023.
The decline represents a $400 million or 18% drop over three years, and offered a uncommon look into the corporate’s financials, Mediaite reported.
The economist Robert Johnson, who dug into the tax paperwork so as to decide what punitive damages ought to be awarded to Younger, revealed that CNN nonetheless boasted web earnings of $600 million in 2021, $300 million in revenue in 2022 and $400 million in 2023.
It couldn’t occur to a nicer community.
CNN’s Web Value Sliced in Half to $2.3 Billion Over Two Years
The cable community was price $4.4 billion in 2021, based on firm funds shared in court docket on Friday. The monetary metrics put a highlight on CNN’s conspicuous decline in recent times.https://t.co/DM0EtO8Hli— johnny greenback (@johnnydollar01) January 17, 2025
Trial reveals that CNN’s revenue has plummeted by greater than $400 million within the final yr pic.twitter.com/3n5VKTFDhZ
— HOT SPOT (@HotSpotHotSpot) January 18, 2025
Trump is being sworn in as president for a second time on Monday and CNN is crumbling to the bottom. How’s that for irony?
