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[Al Gobbi]

CNN’s profits are poised to drop below the $1 billion mark for the first time since 2016 as its new boss scrambles for new ways to generate revenue, according to a report.

Chris Licht, who took the helm of CNN three months ago after the surprise exit of former chief executive Jeff Zucker, has not only inherited a scandal-scarred network, but is also running a channel with slumping ratings.

The cable news network’s profitability is on pace to decline to $956.8 million this year, according to projections from S&P Market Intelligence. That’s well short of the company’s internal target of $1.1 billion.

To cull expenses, WarnerBros. Discovery CEO David Zaslav tightened CNN’s travel and expense policy, with work celebrations for senior vice presidents and below to be capped at $50 per person, the report said. Licht has also cut costs in CNN’s reporting endeavors, opting to not send US-based staff to overseas events..

https://nypost.com/2022/08/02/cnns-p...e-2016-report/