CNN CEO Chris Licht out after Trump city corridor, Atlantic article
Chris Licht is out at CNN after main the information community for somewhat greater than a 12 months, mum or dad firm Warner Bros Discovery introduced Wednesday morning.
Shares of the corporate closed greater than 8% larger Wednesday.
Whereas Warner Bros. Discovery seeks a substitute for Licht, executives Amy Entelis, Virginia Moseley, Eric Sherling and David Leavy will lead CNN, the corporate mentioned.
“We’ve got nice confidence on this group and can absolutely assist them till a brand new CEO is known as,” Warner Bros. Discovery CEO David Zaslav mentioned in a memo to employees, including the corporate can be conducting a search internally and externally for CNN’s subsequent chief. “We’re in good arms, permitting us to take the time we have to run a considerate and thorough seek for a brand new chief.”
Licht’s departure got here as he confronted a riot amongst CNN’s expertise and employees. His tenure, which successfully began when he eradicated the community’s costly CNN+ streaming service, was riddled with programming missteps and rock-bottom rankings.
“I’ve identified Chris for a few years and have huge respect for him, personally and professionally. This job was by no means going to be simple, particularly at a time of nice disruption and transformation, and Chris poured his coronary heart and soul into it,” Zaslav mentioned in his memo. “Sadly, issues didn’t work out the best way we had hoped – and in the end that is on me. I take accountability.”
Chris Licht, Chairman and CEO of CNN Worldwide.
Courtesy: CNN
Licht drew heated criticism in current weeks after the community hosted a city corridor with Donald Trump that was filled with scores of the previous president’s cheering followers. Whereas the occasion drew 3.3 million viewers, CNN’s rankings plummeted afterward. Two days after the city corridor, CNN’s prime-time viewership got here in under right-wing outlet Newsmax, a a lot smaller community.
Nevertheless it was an unflattering 15,000-word profile of Licht in The Atlantic – titled “Contained in the Meltdown at CNN” – that may have sealed his destiny. He apologized to staffers Monday morning, however prime brass at CNN’s mum or dad firm, Warner Bros. Discovery, together with CEO David Zaslav, weren’t proud of the article and the aftermath.
The transfer comes quickly after Leavy, a key Zaslav ally, was named the community’s new chief working officer. Leavy was tasked with taking up advertising and marketing, public relations, promoting gross sales, services and different logistics.
The transfer was meant to permit Licht to focus extra on programming. Licht helped launch MSNBC’s “Morning Joe” as its government producer in 2007 and later turned government producer and showrunner of “The Late Present with Stephen Colbert” on CBS.
Licht did not instantly reply to CNBC’s request for remark.
Learn Zaslav’s memo to employees:
All,
This morning we’re asserting that Chris Licht might be leaving CNN and we might be conducting a large search, internally and externally, for a brand new chief. I needed you to listen to this information immediately from me because it impacts you and your groups.
I’ve identified Chris for a few years and have huge respect for him, personally and professionally. This job was by no means going to be simple, particularly at a time of nice disruption and transformation, and Chris poured his coronary heart and soul into it. He has a deep love for journalism and this enterprise and that has been evident all through his tenure. Sadly, issues didn’t work out the best way we had hoped – and in the end that is on me. I take accountability. Evidently, we admire Chris’ efforts and dedication and want him all one of the best.
We’ve got put in place a strong transition plan with the appointment of an performing management group made up of skilled programming executives… Amy Entelis, EVP, Expertise & Content material Growth, Virginia Moseley, EVP, Editorial, and Eric Sherling, EVP, U.S. Programming, together with David Leavy, COO, on the industrial facet. We’ve got nice confidence on this group and can absolutely assist them till a brand new CEO is known as. We’re in good arms, permitting us to take the time we have to run a considerate and thorough seek for a brand new chief. I acknowledge that adjustments like this may be hectic and admire your continued endurance as we transfer by this course of.
You have heard me say it many occasions: CNN has the best journalists on the planet… we’re deeply dedicated to supporting them and the essential work that CNN does daily. We should get this proper – and we are going to!
David
Disclosure: NBCUniversal is the mum or dad firm of MSNBC and CNBC.
