CNN is undergoing layoffs, and I first read about it from Aftermath, which linked to an internal CEO memo from Mark Thompson via The Hollywood Reporter. Interestingly, The Hollywood Reporter article displays a TIME favicon.
According to The Hollywood Reporter:
Thompson joined CNN last year following the firing of Chris Licht. The former CEO of The New York Times Company has been tasked with turning around the venerable cable news channel and, in particular, determining a digital future for the business.
Thompson, as the former CEO of The New York Times Company, oversaw significant digital subscriber growth year-over-year in recent years.
The digital video market is already heavily saturated. I wonder how much of a dent CNN can make in such a competitive space. Many influencers have filled the void left by CNN in the digital realm, and I’m curious if the company’s strategy will involve partnering with smaller, left-leaning news personalities or creating their own digital-first talent.
The rise of right-wing influencers played a key role in the 2024 election, so CNN’s push could signal an attempt to regain digital influence for legacy media companies.
Hopefully, this marks a return to honest, thorough reporting—helping people understand events rather than simply react to them emotionally.