CNN Layoffs?

[Jolly]

https://nypost.com/2024/06/10/media/cnn-staffers-fear-layoffs-as-network-inks-deal-with-the-ap/

[taiwan_girl]

Are any media groups doing well?

[Jolly]

FOX News had a net income of $1.25 billion in 2021 and has inched upwards since then. Probably due to the election, income grew 8% last quarter in 2023.

So yeah, they're making money.

[LuFins Dad]

@Jolly said in CNN Layoffs?:

FOX News had a net income of $1.25 billion in 2021 and has inched upwards since then. Probably due to the election, income grew 8% last quarter in 2023.

So yeah, they're making money.

What’s their overhead?

[Jolly]

@LuFins-Dad said in CNN Layoffs?:

@Jolly said in CNN Layoffs?:

FOX News had a net income of $1.25 billion in 2021 and has inched upwards since then. Probably due to the election, income grew 8% last quarter in 2023.

So yeah, they're making money.

What’s their overhead?

If I read it correctly, the profit that year was about $570M.

[LuFins Dad]

@Jolly said in CNN Layoffs?:

@LuFins-Dad said in CNN Layoffs?:

@Jolly said in CNN Layoffs?:

FOX News had a net income of $1.25 billion in 2021 and has inched upwards since then. Probably due to the election, income grew 8% last quarter in 2023.

So yeah, they're making money.

What’s their overhead?

If I read it correctly, the profit that year was about $570M.

Thanks!

I had an argument with a Nationals fan a few years back where he wanted the Nats to give Bryce Harper, Max Scherzer, Trey Turner, and Juan Soto to $50M per year contracts. I pointed out that would mean a total Payroll of $350M for a team that had $328M in Revenue. And they still had to pay $68M per year for the stadium plus all of the other business overhead. He replied “The Lerner’s are billionaires, they can afford it” Uhm, no, they can’t. They didn’t become billionaires by running businesses losing $100M per year…

This guy was an engineer, too.