THE CEO of CNN has warned the network’s future is in jeopardy if it does not adapt to the changing landscape of legacy media.
Over 200 layoffs were announced on Thursday and one of the network’s mainstays, Jim Acosta, was booted from his time slot as bosses scramble to address issues in the business.
Acosta, who clashed with President Trump during his first term, lost his 10 am time slot to Wolf Blitzer’s political show, The Situation Room.
Blitzer, who previously occupied the early evening hours, will now host The Situation Room between 10 am and noon EST alongside fellow CNN star Pamela Brown.
The Situation Room has been on the network’s schedule for almost 20 years.
Acosta could get pushed down to a midnight time slot on the East Coast, per the Los Angeles Times.
This means his new show would air at 9pm on the West Coast, but Acosta has reportedly been told he does not have to relocate.
The network often airs repeat episodes after 11 pm EST.
However, sources told the Los Angeles Times that Acosta could leave the network.
A potential schedule shakeup had been in the works for days, according to Variety.
The network’s changes will see around 200 jobs in traditional TV cut.
The company said it was planning on hiring about 200 staffers to focus on its digital services, including data scientists and product engineers as part of the pivot.
The job cuts equate to around 6% of the workforce.
Bosses are rushing to meet the target of raising $1 billion in digital revenue by 2030.
Mark Thompson, who was named CEO in August 2023, warned that if the network doesn’t adapt, its future prospects could be plunged into jeopardy.
“This is a moment where the digital story feels like an existential question,” he told The New York Times.
“If we do not follow the audiences to the new platforms with real conviction and scale, our future prospects will not be good.”
Chiefs are already in the process of developing a new streaming platform, according to a company memo seen by The U.S. Sun.
CNN’s star shakeup & layoffs
CNN CEO Mark Thompson has announced there will be around 200 job cuts in TV as the network shifts its strategy to focus on digital services.
The company is to hire data scientists and product engineers.
Journalist Jim Acosta has reportedly been bumped down the schedule to a midnight eastern slot.
Renowned journalist Wolf Blitzer’s show The Situation Room is set to fill the mid-morning slot left by Acosta.
Blitzer and Pamela Brown will host the mid-morning show.
Chiefs are also aiming to publish between 50 and 100 vertical videos per day as part of their digital strategy.
Bosses are also creating a new streaming platform.
“Some of today’s announcements mean significant new job opportunities at CNN, but others will lead to the loss of some valued colleagues,” Thompson told colleagues in a note seen by The U.S. Sun.
“That too is an unwelcome but inevitable part of the change process. We will aim to contact every colleague who will be impacted by these changes as soon as we possibly can – and will of course help and support them in any way we can thereafter. In the year and a quarter since I arrived at CNN, we’ve had an incredible period of news and have already made significant progress on our transition to the future.
“I am grateful to every one of these colleagues for everything they’ve done for this company in my time and the years before.”
A new TV schedule is also in the works, according to the company.
“It’s early days but we’ve already established that there’s immense demand for it not just in America, but across much of the world,” Thompson said in a memo to CNN staff.
He said decisions were made to try to ensure CNN is one of the world’s greatest news networks.
Thompson admitted that changes can be difficult, but are necessary.
“Our objective is a simple one: to shift CNN’s gravity towards the platforms and products where the audience themselves are shifting and, by doing that, to secure CNN’s future as one of the world’s greatest news organizations,” he said.
“The process of change is essential if we’re to thrive in the future, but I both acknowledge and regret its very real human consequences.”
When he assumed the role of chief executive, Thompson emphasized that he wanted to build a “successful future” for the network.
“I couldn’t be more excited about the chance to join CNN after years of watching it and competing against it with a mixture of admiration and envy,” the media mogul said at the time of his appointment.
“Where others see disruption, I see opportunity. I can’t wait to roll up my sleeves and get down to work with my new colleagues to build a successful future for CNN.”
The cuts come as the network has seen a dip in its ratings.
Since the election, CNN has seen a near 50 percent drop in prime-time viewership, down to 394,000 overall viewers, according to the Washington Post.
The declining viewership forced CNN to move around its television schedule, including changing the time slots for six of its shows.
Source : https://www.the-sun.com/news/13364762/cnn-network-job-cuts-jim-acosta/