On-air contributors are expected to be among those getting axed at CNN, which is getting squeezed by parent Warner Bros. Discovery to reduce costs.
CNN employees are in for a rough week as the news network’s chief, Chris Licht, told staff to prepare for a round of layoffs.
Like the rest of the traditional TV business, CNN is also looking at a future with slowed growth in pay TV subscription revenue and a softening advertising market. Contributors are not employees but are under contract to serve as talking heads or experts appearing exclusively on the network. Most are kept on an annual retainer and are paid in the low six-figures. Bigger names earn as much as $500,000 a year.
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