CNN’s net worth fell by nearly half between 2021 and 2023, Yahoo Finance reports, citing financial reports disclosed at the network’s defamation trial.
The network’s valuation fell by 47.7%, from $4.4 billion in 2021 to $2.3 billion in 2023.
The company’s annual revenue also slipped, by 18.18%, from $2.2 billion to $1.8 billion in that timeframe.
Since the 2024 presidential election, CNN ratings, like those of MSNBC, have taken a major hit, with CNN’s viewership falling by 27% in the weeks following President Donald Trump’s victory. CNN is now averaging 367,000 total viewers.
On Friday, a Florida jury on found CNN liable for defaming a U.S. Navy veteran who helped evacuate people from Afghanistan after the U.S. military withdrew from the country in 2021. The jury ordered CNN to pay the veteran $5 million in damages.
CNN Thursday said it expects to lay off about 200 people as part of a restructuring announced to pivot the news organization toward a more digitally oriented future.