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So we just spent some time talking about how the college football and NFL ratings are down.

But here we go again.

CNN's set to announce mass layoffs today. Hundreds of employees

are expected to be let go. The layoffs are part of a plan to refocus CNN on a global digital audience

and lower their production costs. They actually might be moving some of their shows from New York or

Washington to Atlanta for cheaper production costs.

So this is what we call the death spiral in the media industry.

And you see this all the time.

It's funny because we just talked about these mega corporations buying up radio stations

and how that was sort of the beginning of the end as we kind of radio went through such a transformation or has since since the late

90s when this started happening and for a while it went well and then it obviously the last

decade or so has not gone gone great because these megacorp's far exceeded their ability to

to pay these loans as the industry changed, et cetera. With CNN, the problem

is not production cost. I mean, it is now because you're hemorrhaging money and your ratings

stink. But the problem is people don't like your product. You can cut, you can't cut your way to

profit. You know this. You were in management and radio for many, many years. You cannot cut your way to long-term

sustainability. Now, anytime somebody comes in, takes over a corporation, a company, they're looking

ways to save money, et cetera. But unless you're consistently generating new and greater revenue,

...