The downfall of Chris Licht and its implications for the news industry.

Chris Licht, former CNN CEO, was informed by Warner Bros. Discovery CFO, Gunnar Wiedenfels, that he would need to cut more than $100 million from CNN's annual budget, which could only be achieved by laying off hundreds of employees. This came as a surprise to Licht, who had previously been assured that there would be no layoffs at CNN. Wiedenfels had earned a reputation as a "hatchet man" for implementing cost-cutting measures and mass layoffs.