‘ceding control’

CNN CEO Hands Over Business Operations Responsibilities, Report Says

According to the report, the decision to move Licht away from the business operations was an “unequivocal vote of diminishing confidence.”

Hours after The Atlantic dropped a lengthy and not-so-positive profile on Chris Licht, Puck News reported that the CNN CEO has told employees he’s no longer tasked with managing the business operations at the company. It was this past Wednesday when Licht claimed that “he would be ceding control of all business operations to David Leavy, the chief corporate affairs officer at Warner Bros. Discovery and a longtime member of the [David] Zaslav braintrust,” the publication noted. According to the report, the decision to move Licht away from the financial matters was an “unequivocal vote of diminishing confidence by the parentco in Licht’s ability to manage a business.” Notably, since Licht has taken over, CNN has suffered to pull in big cable ratings.