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When Kaplan took over, the network was averaging 970,000 prime-time viewers. In an attempt to attract a wider audience, Kaplan brought in star anchors and contributors, including former Associated Press reporter John King and political strategist James Carville. He also produced a number of topical news specials and launched Newsstand, a news show featuring longer stories produced in conjunction with TIME magazine. Instead of bringing in viewers, however, these changes just cost the company money.
What CNN had done to network news—made it b u i l t s u c c e s s trained journalists, as had been the tradition at CNN. Those differences, some f o r page 40 bad news preferences. But at the same time, CNN’s formula had become old and tired in look old, irrelevant, pompous—Fox News … was doing to CNN,” wrote journalist Michael Wolff in a Vanity Fair article. Fox was clearly winning the ratings war, but CNN was still ahead of its competition in terms of profits. In 2003, the network reported a profit of approximately $350 million, roughly five times the amount that Fox News was able to make.
T h e s t o r y o f c n n “I think CNN is at risk of becoming a bad joke. ” reese schonfeld, former cnn president Reese Schonfeld, who helped found CNN, later wrote a book about the early days of the network c n n b u i l t f o r s u c c e s s page 44 bad news t h e s t o r y o f c n n long live the king In 2007, Larry King marked his 50th year of broadcasting, including 22 years as the host of Larry King Live, the most highly rated show on CNN since it began in 1985. By then, King had conducted more than 40,000 on-air interviews.