Part 3/12:
Thompson’s task is daunting: to transform CNN into a more digital-friendly, profitably sustainable enterprise. The network has suffered heavily from declining viewership and shrinking revenue, despite technological advances like satellite and streaming technology that should theoretically bolster profitability. However, revenues have steadily declined from a peak of around $1 billion in profit back in 2016 to approximately $600 million today. This trend indicates an industry struggling to adapt—one that is often paying high salaries to personalities and anchors whose viewership does not justify their costs.