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November 17, 2020

Report: AT&T Looking to Dump Loser Channel CNN

Report at Outkick the Coverage. There's a link to Tucker Carlson's interview with business reporter Charlie Gasparino at the link.

The background to this is that AT&T went heavily into debt to buy Time Warner (which itself owned CNN). They are one hundred and fifty eight billion (with a B!) in debt, and they are cutting costs everywhere and trying to sell anything except the only part of Warner they want, its movie catalogue and its streaming services (especially HBO).

CNN is viewed as a garbage property which will be losing money if Trump loses the White House-- they've done Orangemanbad programming for four plus years. What would they do in place of that?

Before the election, speculation in business circles emerged that, due to debt, AT&T could move off CNN. Investment bankers speaking to Fox Business surmised Jeff Bezos could be a buyer.

CNN's future is up in the air for reasons beyond just AT&T's enormous debt. CNN President Jeff Zucker's may not stick around and the network's current strategy is strictly hating Trump. Assuming Joe Biden is certified by the states as the winner, CNN's shows and hosts must find a new identity. Finally, the increasingly irresponsible political network doesn't fit with the rest of Time Warner's safe properties. Both AT&T CEO John Stankey and chairman Randall Stephenson have grown less comfortable with CNN's controversial programming, Fox Business adds.


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posted by Ace at 01:12 PM

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