David Zaslav, the media mogul, has recently announced that he is searching for a replacement for Chris Licht as CEO of CNN. Last year, Mr. Zaslav hired Licht to lead CNN, but just 13 months later announced his departure. Mr. Zaslav initially wanted CNN to air a wider range of political viewpoints, including those of conservatives, without becoming an “anti-Trump network.” Despite the challenges, Mr. Zaslav remains committed to this plan. In addition to searching for Licht’s successor, he also faces the challenge of developing a financial strategy for CNN, which heavily depends on cable affiliate fees and TV advertising, both of which are declining. Profit at CNN, including one-time losses from the shuttered streaming service CNN+, was at its lowest in several years, falling below $1 billion last year.
However, Mr. Zaslav is no stranger to bold moves. He has engineered a series of mergers that have propelled him to the highest echelons of the media industry. In 2018, he merged Discovery with Scripps Networks Interactive, which gave the combined company greater bargaining power. Mr. Zaslav expanded Discovery’s sports programming and signed a deal for the international rights to the Olympics. He further cemented his position as a media mogul following the merger between Warner Media and Discovery, putting him in charge of prestigious film and TV productions and a pre-eminent news network.
Despite his significant achievements, the recent departure of Licht has caused setbacks for Mr. Zaslav, who is now tasked with finding a replacement with a shared vision, the ability to win back the trust of the newsroom, and a plan for financial success at CNN. Nevertheless, Mr. Zaslav remains committed to his goal of providing a platform for diverse political perspectives at CNN. However, he must address the challenges of falling revenue and profits at CNN, which rely heavily on cable affiliate fees and TV advertising.
