CNN and CBS News Rekindle Talks for News-Gathering Partnership

Strategic Insights

May 4, 2010 — 1 min read

CNN, a division of Time Warner, and CBS News have resumed discussions about a potential news-gathering partnership, marking the third such attempt in 13 years. The talks aim to address the high cost of news gathering amid a shift in viewer preferences towards more partisan channels and online sources. A partnership would help CNN address its weak performance in weekday primetime, which accounts for only about 10% of the network's overall profit. Meanwhile, Fox News, owned by News Corp, continues to thrive, generating its most profitable quarter in history.

Key Takeaways:

CNN and CBS News have rekindled talks for a news-gathering partnership, which would be their third attempt in 13 years.
The partnership is intended to help CNN address its weak performance in weekday primetime, which accounts for only about 10% of the network's overall profit.
Fox News, owned by News Corp, continues to thrive, generating its most profitable quarter in history, with cable networks accounting for more than half of News Corp's global operating profit.
CNN has explored partnerships with ABC News in the past, while Time Warner and CBS have routine discussions over various matters and have evolved into close partners.
The existing partnership between CBS Sports and Turner, Time Warner's cable networks unit, is a 14-year, $10.8bn deal to share the rights to college basketball championships.

Statistics:

13 years: The time frame over which CNN and CBS News have attempted a news-gathering partnership three times.
10%: The portion of CNN's overall profit accounted for by weekday primetime.
Double digits: The annual increase in CNN's global operating profit.
$10.8bn: The value of the 14-year deal between CBS Sports and Turner, Time Warner's cable networks unit.
More than half: The proportion of News Corp's global operating profit accounted for by cable networks.

Sources:

New York media
New York magazine's website
News Corp
Time Warner
CBS News
The Wall Street Journal (for Fox News' profitable quarter)
Time Warner's press releases (for the CBS Sports and Turner deal)

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