CNN President Jeff Zucker could be on his way out of the news organization as AT&T is reportedly demanding of his removal if its $85 billion deal to buy Time Warner pushes through, the Gateway Pundit reports.
“There was early talk about the way Zucker managed that wasn’t a good fit for the new organization… They were eyeing ways to neutralize him,” according to the New York Post citing one source.
He would either be stripped of his current powers over cable network or AT&T would sell off the CNN to steer clear of the potential controversy with the network’s negative coverage of President Donald Trump.
“The news business doesn’t seem to be central to AT&T’s content strategy,” according to Craig Moffett of media research firm MoffettNathanson.
“They seem much more interested in the entertainment brands. If selling CNN would make regulators happy, they’ll sell it,” Moffett added.
With his future uncertain at the media giant, media executives say that Zucker could also cash out his huge stock holdings at Time Warner and leave the company with a lot of money.