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IPFS News Link • MEDIA (MainStreamMedia - aka MSM)

CNN Fires CEO Chris Licht After Just 13 Months

• Zero Hedge

His tenure at the network was marked with controversy, including the shuttering of the network's failed CNN+ streaming platform at the request of CNN's new owners who were unsure about a standalone digital product, a move which resulted in scores of layoffs. The network's financial picture has also been worsening - generating just $750 million in profit last year, including one-time losses from CNN+, down from $1.25 billion the year before.

As Axios notes, "Licht's leadership became untenable following a damning profile about him published by The Atlantic last week."

Meanwhile, one day before the Atlantic story was published, longtime confidant of Warner Bros. Discovery CEO David Zaslav, David Leavy, was named Chief Operating Officer of CNN.


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