Two people familiar with CNN’s operations said the network’s initial 2022 profitability target was $1.1 billion, which Mr. Licht is on track to miss by more than $100 million. To help solve the financial puzzle, Mr. Licht has tapped Chris Marlin, a longtime friend who was recently an executive at the Florida home builder Lennar. Mr. Marlin has floated a variety of revenue-generating ideas since joining CNN, including striking advertising deals with major tech companies like Microsoft. Mr. Marlin has also mentioned selling sponsorships to corporate underwriters, extending CNN’s brand in China and expanding CNN Underscored, an e-commerce initiative. And Mr. Licht has found ways to make coverage more economical, including a recent decision not to send a U.S.-based special events team to Queen Elizabeth II’s Platinum Jubilee.

Source: CNN August 02, 2022 19:16 UTC