According to reports from the New York Post, CNN’s former executive Jeff Zucker is expected to make a bid to buy the failing network from Warner Bros. Discovery. This news comes after CEO Chris Licht’s recent firing. Licht tried to fix the network’s ratings by moving toward the center, something that did not sit well with far-left employees.
The disturbing fact is that CNN needs to be rescued, and when it comes to doing that, no one can beat Jeff Zucker. Even though he was ousted from the network over his undisclosed relationship with a former employee, he has emerged as the top contender to save CNN should Warner Bros opt for a sale. Sources have stated that Zucker sees a huge opportunity with the upcoming election and wants to make an impact.
As per some speculators, CNN could cost between $5 to $6 billion, which could make buying the network difficult. Despite this, Zucker’s friends have indicated that he wants to buy CNN as “the ultimate revenge” against Warner Bros. for the way he was forced out.
CNN needs to be absorbed by a larger media conglomerate, according to some, but Zucker is confident he can save it. Zucker is currently the CEO of RedBird IMI, a firm that includes RedBird Capital Partners and the Abu Dhabi-based International Media Investments. The partnership is worth approximately $1 billion, but they are willing to invest in the right deal.
CNN could be put up for sale — and ex-CEO Jeff Zucker wants it, sources say https://t.co/3vt1syOr89
— New York Post (@nypost) June 22, 2023
Jeff Zucker’s determination to rescue CNN is admirable, which is what America needs right now. The network has been struggling in recent years, but with Zucker’s experience, creativity, and leadership qualities, it’s possible that he can get it back to being the respected and credible news source it once was.
Source: Trending Politics