In Reply to: Or, Goodbye, Good Luck and GFY posted by SagoBob on March 20, 2026 at 14:48:11
Makes sense. Expect CNN to follow since the same people in charge of CBS are in charge of CNN. CNN is still profitable but it's lost half of its value in the last year or two. They might be able to sell the declining asset if they are lucky.
Nobody wants to own news. Even Netflix's deal where they were initially willing to pay more than Paramount excluded the news.
They didn't want it even if it was free. They were smart enough however to know how to jettison CNN without making it public where as the Ellisons took the brunt of trying to get rid of loss leaders of Kimmel and CBS News both of which are rumored to lose around $40 to $50 million a year.
It's what happens when you have an unqualified CEO.