Traditional TV companies moving into digital seems like a no-brainer. But even veteran TV-based companies can miss -- a bit.
Take CNN Digital. It pulls in $370 million in revenues a year, according to the company. But despite these numbers, according to BuzzFeed, CNN Digital now has a $20 million budget shortfall.
CNN Digital has a staff of 660 people and is not considering layoffs, per various reports. AT&T has yet to close its $85 billion deal for Time Warner, which will add to the company’s already sky-high debt load.
So the question is: Is there too much optimism ...