CNN and CBS News Rekindle Talks for News-Gathering Partnership

Strategic Insights -

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)