FOX News contributor Steve Hilton responded to an exchange between J.D. Vance and CNN’s Jake Tapper over the real issues facing Americans on “The Big Money Show.”
CNN reportedly plans to lay off “hundreds” of employees at the beginning of President Donald Trump’s second administration.
Pack reported that CNN CEO Mark Thompson would announce the network cuts to staff on Thursday morning, but CNBC reported that a source familiar with the matter said the layoffs would involve “CNN’s most high-profile employees under contract. It does not affect the person.”
CNN did not immediately respond to a request for comment.
Fox News Digital previously reported in November that CNN would face major layoffs by March and that the impact on the network would be “very significant.”
CNN staff ‘extremely frustrated’ with looming budget cuts and layoffs impacting struggling network
CNN reportedly plans to lay off “hundreds” of employees early in the second Trump administration. (Ilya Nouberge/Bloomberg via Getty Images)
“I’m very sad and very frustrated overall,” one longtime CNN staffer told FOX News Digital. “That feeling permeates throughout the organization among people who have been here a long time and feel a deep personal connection to what they have helped build.”
“This is a time of complete overhaul and disruption of business models. It’s extremely difficult under the best of circumstances,” the CNN staffer added.
Plaintiff in CNN defamation case celebrates ‘vindication’ following court drama: ‘I’m glad it’s over’
Another CNN employee, Thompson, who has been with the company for just over a year, noted that he has been outspoken about the big changes the company must make to survive.
A second CNN staffer told Fox News Digital: “I’m concerned because the industry is clearly in trouble…I’m sure there will be layoffs.”
FOX News Digital previously reported that CNN staffers were preparing for mass layoffs by March. (Jon Graeme/LightRocket via Getty Images/Getty Images)
The employee believes that “more programming will be streamlined and produced outside of Atlanta,” and that the most affected will be “expensive” programming produced in New York City. I guessed it.
CNN’s financial woes were thrust into the spotlight last week after a jury found the network had defamed a Navy veteran and could seek punitive damages. After a legal battle, a settlement was reached.
CNN defamation trial: Expected to lose, but sources say it’s still a bad blemish for the network
Forensic economist Robert W. Johnson, who was hired within the plaintiff’s legal deadline to evaluate CNN’s financials, said CNN was worth $4.4 billion in 2021, according to tax documents provided by the network. However, he testified that it decreased to $2.3 billion in 2023.
Johnson’s data also showed CNN’s revenue fell from $2.2 billion in 2021 to $1.8 billion in 2023. CNN’s net income for the same period fell from $600 million in 2021 to $400 million in 2023.
Forensic economist Robert W. Johnson analyzed CNN’s revenue decline during a defamation trial against the network last week. (Fox News Digital/Fox News)
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Fox News’ Brian Flood contributed to this report.
