CNN actually managed to turn a profit in recent years, leveraging their position as an anti-Trump outlet to their advantage as people tuned in to watch election coverage and early Trump administration developments. But it just wasn't enough.
Now, the fake news network is preparing to lay off nearly all of their digital department to accommodate their new patrons at AT&T, who are set to purchase the network. AT&T has been in talks to purchase Time-Warner, CNN's parent company.
CNN's digital department was looking to challenge Vice and BuzzFeed in the entertainment news space. That effort failed, as the department lost millions of dollars, according to Vanity Fair, even though the network as a whole was profitable.
CNN has drawn fire from President Trump for reporting fake news, as the two have exchanged blows publicly. CNN was the target of ridicule last fall for running a defensive ad that subtly references their disagreements with President Trump, and claims that they will tell you the difference between an apple and a banana. The creators of this ingenious ad will be missed.
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