CNN’s net worth was nearly sliced in half between 2021 and 2023, according to financial metrics shared at the network’s defamation trial on Friday.
The network’s net worth went from $4.4 billion in 2021 to $2.3 billion in 2023 — a drop of 47.7% — according to what the company shared.
CNN’s annual revenue also dropped from $2.2 billion to $1.8 billion from 2021 to 2023, per the company’s internal metrics.
Free Beacon’s Jessica Costescu shared a CNN revenue graphic from the courtroom on X:
The financial metrics put a spotlight on CNN’s conspicuous decline in recent years. And following the 2024 election, the network, along with MSNBC, has seen its ratings take a major hit. TheWrap reported in November that CNN’s viewership declined 27% in the weeks following Donald Trump’s victory over Kamala Harris, with CNN averaging 367,000 total viewers post-election.
CNN’s finances were reported after a Florida jury on Friday found that CNN defamed a U.S. Navy veteran when it implied he illegally profited from helping Afghans flee the country during a 2021 segment on “The Lead With Jake Tapper.” The network was ordered to pay Zachary Young $5 million in compensatory damages for libel, and the jury is still deciding on how much the network must now pay in punitive damages.
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