While costly missteps, bad newsroom morale and low ratings flavored the narrative of former CNN CEO Chris Lichts firing this week, advertising intelligence company MediaRadar reveals that a precipitous recent decline in ad sales revenue for CNN probably factored into Licht's departure, as well.
According to MediaRadar data, over 2,000 companies spent $312.6 million from January through April on CNN digital and linear TV ads. That was down 39% from the same four-month period of 2022.
