Panic sets in at CNN as insiders say overpaid stars could face the axe amid Warner Bros Discovery’s split

NEW YORK CITY, NEW YORK: Warner Bros Discovery just dropped a bombshell that has shaken the very foundation of CNN.

The media titan revealed it’s breaking itself up into two entirely new companies by mid-2026, and industry insiders say the fallout could be brutal, especially for CNN’s biggest and most expensive stars.

The two new companies will be called Streaming & Studios and Global Networks. The first will house the glitzy Hollywood arm — Warner Bros Television, Motion Pictures, DC Studios, HBO, and HBO Max. The second will be a more buttoned-up, news-centric outfit that will include CNN alongside TNT Sports, Discovery, and a few others.

David Zaslav, the big boss at Warner Bros Discovery, is sticking with Streaming & Studios. Gunnar Wiedenfels, the company’s number-crunching CFO, is getting promoted to President of Global Networks. Insiders say he’s not here to play nice, the Daily Mail reported.

CNN’s pricey stars in the firing line

CNN has been struggling. The ratings are tanking, and this split might be the final push that forces the network into a complete makeover or even a purge.

“Inevitably, Gunnar will look at CNN and decide he can maintain relatively similar profits at a mere fraction of the cost,” former CNN reporter Dylan Byers wrote in an op-ed for Puck

“This will have perceptible ramifications on the talent side. Why, for instance, would Gunnar pay Anderson Cooper $18 million a year when Kaitlan Collins draws the same ratings at roughly a fifth of the salary?”

One anonymous source, described as someone familiar with the network’s inner workings, told Fox News that there are “tears on the horizon.” According to them, Wiedenfels is coming after high-salaried stars with a vengeance.

“It’s not just the overpriced talent. It’s the overpriced producers. The overpriced executives. The superfluous reporters who barely are on the air. All will either be exited or forced to take massive pay cuts,” the insider warned.

Apparently, this isn’t how it used to be. The network’s former president, Jeff Zucker (who was ousted just before the 2022 merger), had a very different approach. He reportedly overpaid top talent to secure their loyalty. That strategy left CNN with a roster that insiders now say earns roughly five times what they are worth.

CNN is expected to lose a staggering $499.2 million in revenue

When it comes to salaries, Anderson Cooper is reportedly banking a jaw-dropping $18 million a year. Not far behind is Wolf Blitzer, pulling in around $15 million. Then there’s Jake Tapper earning $7 million, and Kaitlan Collins — the new face of primetime — making roughly $3 million.

But the harsh truth is that CNN’s ratings are cratering. In May, the network saw its second-worst month ever in the all-important 25-to-54-year-old demographic, both during the day and in primetime, according to Fox News. Across the board, ratings have been declining steadily over the past year.

The financial picture doesn’t look much better, either. Market research firm Kagan, part of S&P Global Market Intelligence, is predicting that CNN will continue to bleed subscribers and lose revenue even with this strategic reboot. Variety reports the network is expected to lose a staggering $499.2 million in revenue.

According to the same insider, "bean counter" Wiedenfels could slash CNN’s costs by 50 to 60 percent with no impact on revenue or ratings. He could "start by making 70 percent cuts to all show teams for CNN US, bringing their staffing in line with that of their competition,” and then tackle the talent salaries.

"But it will be most devastating for the rank and file. With no union protections, there will be massive layoffs, and those remaining will be asked to do the work of their departed colleagues,” the source added grimly.

Though no layoffs or budget cuts have officially been announced, the uncertainty is driving CNN staffers to panic. Byers told Fox he has "received a deluge of text messages from addled employees at CNN” who are desperate to know what this split means for them.

David Zaslav and Gunnar Wiedenfels advise not to panic

While the mood inside CNN may be tense, David Zaslav and Gunnar Wiedenfels are standing by the decision.

Zaslav insists that the restructuring is exactly what’s needed in this messy media landscape. “By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today’s evolving media landscape,” he said.

Wiedenfels echoed that sentiment.

“At Global Networks, we will focus on further identifying innovative ways to work with distribution partners to create value for both linear and streaming viewers globally while maximizing our network assets and driving free cash flow," he insisted.