CNN is set to be soon forgotten, a media executive has warned – ahead of an increasingly likely split that could see Warner Bros. Discovery’s linear stations separate from its studio and streaming assets.

‘[CNN] will be orphaned, without any real investment or future,’ the veteran exec told Puck over the weekend.  

‘I see no future for it,’ the source said, a day after insiders told CNBC that CNN could soon spearhead a new, cable-centering company following a dip in WBD’s share price and a quarterly review that fell short of estimates.

That’s causing a stir from investors, CNBC’s David Faber said last week – months after WBD CEO David Zaslav reportedly dismissed the move as a bad idea.

Sources told Puck how ideas to better monetize the network from CEO Mark Thompson are either out of date or are coming too late – paving the way for the change of heart insiders already said was occurring Thursday.

Back in January, a more optimistic Thompson said CNN was set to roll out a streaming service to replace its ill-fated predecessor CNN+.

At the time, Thompson touted the yet-to-be announced entertainment arm as a potential alternative to the network’s TV programming, featuring stars and all the like.

Just hours earlier, Thompson had laid off 200 staffers within the network’s ailing TV division. Those left behind are now starting to see the writing on the wall, insiders explained to Puck.

CNN is set to be soon forgotten, a media executive has warned – ahead of an increasingly likely split that could see Warner Bros. Discovery’s linear stations separate from its studio and streaming assets

sources told Puck how ideas to better monetize the network from CEO Mark Thompson are either out of date or are coming too late – paving the way for the change of heart insiders already said was occurring Thursday

Sources interviewed described a work climate rife with worry and anxiety Friday, following CNBC’s report indicating WBD was now willing to follow the example of NBC parent Comcast and spin off most of its cable networks into a new company. 

If it does, aging, less lucrative linear properties like CNN, TNT, and TBS would fall under a new company’s jurisdiction, allowing WBD the opportunity to repair its share price and focus on other ventures.

Among them is the more modern MAX, and the yet-to-be announced streaming platform cryptically touted by Thompson. 

‘In the end, this is about CNN being – as it has been in its history – an indispensable way in which many, many millions of people get their news,’ he told the Times following January’s layoffs, which came after three poor years for the former cable news juggernaut.

‘This is a moment where the digital story feels like an existential question.

‘If we do not follow the audiences to the new platforms with real conviction and scale, our future prospects will not be good.’ 

At the time, Thompson – once the top executive at The Times – also told his staff the future of the network is digital.

He also said that giving people the news they want, when they want it, is the nature of the beast – a stance that has fueled his long-in-the works restructuring plan.

‘I see no future for it,’ the source said, a day after insiders told CNBC that CNN and stars like Anderson Cooper could soon spearhead a new, cable-centering company following a dip in WBD’s share price

The Puck piece – penned thanks to insight from those familiar with the matter –  painted Thompson as an ‘ostensibly brilliant digital turnaround artist’, but one ‘whose playbook proved either out of date or was simply applied too late.’

The article also pointed to execs grappling with the outsized salaries of on-air talents and the resources required to televise them – especially at a time where more and more consumers are taking to apps like YouTube or Instagram to consumer their news.

Thompson has been calling for more digital progress on CNN’s part for nearly two years, during which time staff repeatedly indicated to other outlets changes were coming.

Among these changes have been a push toward vertical videos, Thompson said after enacting layoffs in January – pointing to the plethora of shorter clips found on apps like TikTok.

‘You can use your thumb to flick from a CNN news story to a CNN anchor to a reporter,’ he said of the form of media delivery popular with younger people who peruse news on their phones. 

‘That’s a really interesting experiment,’ he said, with plans to publish 50 to 100 of these videos per day. 

‘It’s the early days, but we’ve already established that there’s immense demand for it not just in America but around the world.’ 

If it does, aging, less lucrative linear properties like CNN, TNT, and TBS – and on-air talents like Wolf Blitzer – would fall under a new company’s jurisdiction, allowing WBD the opportunity to repair its share price and focus on other more modern ventures

CNN’s website – thought to be the most lucrative asset left linked to the once prestigious CNN name – also launched a $3.99 paywall in October, joining several other news stations and publications in doing so. 

The decision itself came months after another round of layoffs that affected 100 employees. The more recent wave amounted to 6 percent of the station’s work force. 

At the time, the British media exec also revealed another digital venture set to come later this year – a subscription product surrounding ‘lifestyle’ content.

The content would cater to those interested in food and fitness.  Thompson refused to offer any more details.

Both efforts, he said, are funded by a $70million investment from parent company Warner Bros Discovery, the multibillion-dollar behemoth created by a $43billion merger in 2022.

A streaming service could combat bottlenecks created by certain shows airing at scheduled times, he said.

Months after the merger, Thompson filled the position left by then-languishing leader Chris Licht, who himself replaced longtime leader Jeff Zucker in 2022.

Under Zucker, CNN had decidedly better numbers in primetime, around 1.25 million. Today, it’s under 700,000 – losing to networks like MSNBC and Fox News.

Just a few years ago, stars like Jake Tapper and Pamela Brown pulled in millions of sets of eyes during primetime. Today, it’s under 700,000

In a similar move meant to combat the decline linear broadcasting, Comcast is creating SpinCo – a company that will continue to work out of 30 Rock though on a different floor. A similar fate could await those at CNN – with ‘smaller indignities’ like less perks and worse offices

Right-leaning Fox hosts like Laura Ingraham, Jesse Watters, Sean Hannity, and Greg Gutfeld over on Fox News have since stolen the limelight, averaging 2.8 million viewers in the same timeslots today.

That’s the most in a field currently being affected by streaming, as well as a changing cable audience.

To combat this changing field, Comcast is creating SpinCo – since christened Versant – which will continue to work out of 30 Rock, though on a different floor.

A similar fate could await those at CNN – with the Puck piece predicting ‘smaller indignities’ for staffers like fewer perks and worse offices if a split does, in fact, go through.