CNN’s CEO Chris Licht is out. His time in the network’s top position was short-lived as he was only there for about a year after replacing Jeff Zucker. Under Licht’s leadership, CNN hoped to redefine its place in the media landscape, but instead saw a continuing decline in revenue and ratings.
Network’s ratings, revenue down
Viewers did not respond well to the network’s attempt to shift from a left-leaning news outlet to more politically centered. This year, the network saw its worst ratings week in 9 years.
Year-over-year, viewership dropped a dramatic 61% in March, marking the worst freefall of all major cable networks in the same time frame.
Major layoffs plague CNN under Licht’s tenure
The revamp of CNN’s morning show also hasn’t fared well. Co-host Don Lemon made remarks about a woman’s prime years which turned into a bad publicity hit. The long-time CNN anchor was fired not long after.
Another veteran anchor, Brian Stelter, was also let go. Hundreds of staffers were informed in November they would lose their jobs in a round of layoffs at CNN which marked the deepest cuts to the organization in years.
The network’s effort to find a more balanced approach to journalism has also gotten mixed results.
A town hall with former president Donald Trump skyrocketed the network’s ratings, attracting 3.3 million viewers, but it also gained criticism over its execution and its left-leaning base. Many lashed out over the network allowing the former president to use its platform.
Another recent town hall with presidential hopeful Nikki Haley didn’t perform so well. Viewership was down 83% compared to Trump’s town hall.
Atlantic profile on Licht airs CNN grievances
All of these recent downfalls were recently documented in a 15,000 word article published by the Atlantic on Friday, June 2.
CNN staffers spoke anonymously about infighting and lack of internal support. Some said Licht’s vision wasn’t shared with many fellow employees who were rooting for his demise from the start.
Licht addressed the article with staffers on Monday, June 5. He was looking to move on from the grievances and frustration over CNN’s stagnancy, but the CEO ended up leaving five days after the article was published.
