Sources have revealed the NY Post that Warner Bros. Discovery is considering the sale of CNN within the next year.

One of the leading contenders to buy it, according to the Post, is former chief Jeff Zucker. Despite being ousted from the company over a year and a half ago due to his undisclosed relationship with a former staffer, the 58-year-old Zucker is reportedly among the contenders to purchase the ratings-challenged network. Sources suggest that Zucker sees a significant opportunity at CNN in the lead-up to the 2024 presidential election, particularly following the unsuccessful programming revamp implemented by ex-CEO Chris Licht to attract a more centrist audience, which resulted in declining ratings and ad revenue.

“A bid from Jeff is likely to be made this fall,” revealed a source knowledgeable about the matter.

Those familiar with Zucker’s thinking assert that the opportunity to buy and once again lead CNN would be the executive’s “ultimate revenge” following his abrupt departure from the network early last year, where he also faced accusations of having overly close ties with disgraced former New York Governor Andrew Cuomo.

“I wouldn’t count Zucker out,” commented a friend of the executive, emphasizing that the seasoned television mogul “holds a grudge” and will find a way to reclaim his position “on top.” Nevertheless, insiders acknowledge that Warner Bros. Discovery CEO David Zaslav’s intentions remain unclear. Zaslav had assumed responsibility for Licht’s strategy to reposition CNN toward the center of US politics, a controversial pivot that was also supported by billionaire board member John Malone.

Speculation in media circles suggests a potential scenario where Zaslav decides to retain CNN while exploring the acquisition of other news networks. One recent rumored deal involves a potential merger between Comcast, the parent company of NBCUniversal, and Paramount, with talks reportedly taking place in 2021.

Should such a merger transpire, Comcast may be required to divest CBS News due to antitrust concerns. Warner Bros. Discovery could then seize the opportunity and combine CNN with CBS, seeking to capitalize on synergies between the two networks under its corporate umbrella, according to some insiders. Bankers estimate that CNN could fetch a sale price ranging from $5 billion to $6 billion. The prevailing notion among well-informed media investors is that CNN needs to be acquired by a media conglomerate that already owns a portfolio of cable channels, allowing for cost savings and enhanced negotiating leverage with cable providers.

(YWN World Headquarters – NYC)