Defamation Trial Yields Revelation CNN’s Revenue Has Dropped Some 400 Million In Three Years

AP Picture/Mike Stewart

Shortly after a Florida jury discovered that CNN had defamed Navy veteran Zachary Younger and awarded Young $5 million in damages on Friday, the network used to be dealt a second blow as its revenue losses have been publicly printed on the witness stand.

The Florida jury reached its initial resolution in Younger’s want early on Friday afternoon. The case concerns a November 2021 file from Alex Marquardt packaged into segments on Jake Tapper and Jim Acosta’s shows that the jury determined had defamed Younger.

After the decision was once reached, the trial moved into its 2d section, right through which the jury will decide how much more money, in punitive damages, CNN owes Younger.

In that second section, Young’s crew known as forensic economist Robert W. Johnson to the stand to act as an expert witness in determining what the punitive damages should be. Underneath direct examination from Young’s lawyers, Johnson dissected tax documents given to the plaintiff and defined that CNN had brought in approximately $2.2 billion in revenue in 2021, $2.0 billion in income in 2022, and 1.8% billion in 2023.

That represents a $four hundred million or 18% drop over three years.

Regardless of its falling earnings, CNN nonetheless boasted web incomes of $600 million in 2021, $300 million in revenue in 2022, and $400 million in 2023. Its cash glide profit from 2023 came in at $424.9 million

Fox News’ Joseph Wulfsuhn provided a handy set of screenshots from the slides Young’s legal professionals confirmed jurors on Friday all through Johnson’s testimony.

The numbers equipped a uncommon have a look at the financial health of a cable information behemoth. It additionally showed that despite its struggles, CNN is still extraordinarily successful.

On the witness stand on Friday, Johnson argued that CNN’s earnings — moderately than web earnings or cash float profit — will have to be used to resolve the punitive damages it must pay Young.

CNN didn’t right away reply to a request for comment.

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