Overhauling CNN Heading Into 2023
Since Chris Licht took over from Jeff Zucker as CEO following the merger between Discovery and WarnerMedia this past spring, there has been buzz surrounding CNN’s editorial direction. Licht has dismissed suggestions that he wants CNN to be “vanilla” and “centrist.” In an early memo to employees this past summer, he noted that CNN is “focused on informing, not alarming, our viewers.” Licht has employed various personnel and programming changes over the last several months.One of his first decisions involved terminating network personalities John Harwood, Brian Stelter, and Jeffrey Toobin. He would later announce the departure of Michael Bass, a top programming executive at the news network.
“In some areas, we will rely more on our CNN journalists,” Licht said in a memo obtained by the New York Post. “Overall, we will engage contributors who are subject-matter experts that expand and diversify the viewpoints we bring our audience. Our goal throughout the strategic review process has been to better align our people, processes, and resources with our future priorities, strengthen our ability to deliver on CNN’s core journalistic mission, and enable us to innovate in the years ahead.”
“At the highest level, the goal is to direct our resources to best serve and grow audiences for our core news programming and products,” he added.
Gannett Slashing Headcount
Gannett, the largest newspaper chain in the United States, is slashing approximately 6 percent of its U.S. media division workforce of 3,440 as part of cost-cutting efforts.The company signaled its measures in August when it cut about 400 jobs and noted that it would not fill hundreds of open positions. Two months later, Gannett announced additional spending cuts, including requiring workers to take unpaid leave and offering voluntary buyouts.
NPR Avoids Layoffs
For now, National Public Radio (NPR) will avoid layoffs as it attempts to cut approximately $10 million from the current fiscal year ending Sept. 30, the company announced on Nov. 30.Instead, NPR will be prioritizing staff and imposing “close to a total hiring freeze,” though CEO John Lansing acknowledged the strain this would place on the current crop of journalists and non-newsroom employees.
Media Industry Adapting to New Environment
The Washington Post recently announced that it would end its Sunday Magazine print edition, resulting in 10 employees losing their jobs.“We will end the print Sunday Magazine in its current form as we continue to undergo our global and digital transformation,” Washington Post executive editor Sally Buzbee said on Wednesday.
“We are all aware of the ongoing macroeconomic pressures that continue to affect our industry and the ad market in particular,” said Paramount CEO Bob Bakish. “As we navigate this period, Paramount will continue to rely on the fiscally disciplined approach that has been our advantage in good times and bad. We have always been mindful of cost management as a company, and we are now taking additional steps to improve efficiency across our organization.”
The Decline in Ad Spending
A crucial part of the media cutting jobs has been the fall in ad spending.“The economy has slowed down more than expected six months ago, which was partly mitigated in the U.S. because political spending was even stronger than expected six months ago,” said Vincent Létang, executive vice president of global market research at Magna and author of the report. “Of course, it’s not going to help when it comes to 2023. We’ve reduced the growth expectation for almost every media category for next year, but we still expect that the market will stabilize and not fall.”
While the international advertising industry is not emulating the downtown of 2008 and 2001, most companies are “voicing caution,” according to GroupM’s Kate Scott-Dawkins, the global director of business intelligence.