Warner Bros. Discovery (WBD) has published internal financial projections for CNN for the first time, revealing the news giant is expected to generate $1.8bn in revenue in 2026.
The figures were disclosed in a proxy filing related to WBD’s planned spin-off of Discovery Global, in which CNN will play a central role. The projections show CNN’s revenue rising steadily to $1.9bn in 2027, $2bn in 2028, and $2.2bn by 2030.
The filing also outlined adjusted EBITDA expectations, with CNN forecast to earn about $600m in 2026, falling to $500m in 2027, and then stabilising at $600m through 2030.
Streaming growth expected to offset cable decline
WBD expects CNN’s streaming revenue – referred to as “new platform revenue” – to contribute around $600m by 2030, as the company seeks to reduce reliance on traditional pay-TV.
However, the filing highlights the broader industry challenge facing cable networks, with CNN projected to face core revenue declines of 4% compound annual growth rate, offset by cost-saving measures and investment in growth areas.
Tax documents from a lawsuit last year showed CNN’s revenue at $2.2bn in 2021, dropping to $1.8bn in 2023, suggesting the channel may have stabilised if the projections hold.
CNN’s role in the wider Discovery portfolio
The disclosure also offers insight into the rest of WBD’s cable business, with revenues across channels such as TNT, TBS, HGTV, and Food Network expected to fall from $9.9bn in 2026 to $7.7bn by 2030. Adjusted EBITDA for the same group is projected to shrink from $3.8bn to $1.9bn over the period.
A signal of potential sale or acquisition interest
Analysts suggest the detailed breakdown of CNN’s finances may indicate WBD is preparing for increased interest in the network. CNN has long been considered a possible acquisition target due to its global reach and brand strength.
The channel has also been mentioned by former US President Donald Trump, who said last month that selling CNN should be a priority under his administration.
The digital push under Mark Thompson
CNN is currently undergoing a major transformation under CEO Mark Thompson, who launched a premium subscription offering last year as part of a broader strategy to modernise the network and accelerate digital growth.
WBD has warned that the financial details were not prepared for public release, but were included in the filing because they were used by the board in assessing the proposed Discovery Global spin-off.
