CNN’s ad revenue witnessed a significant decline of nearly 40% during Chris Licht’s tenure as CEO of the cable news network, which came to an abrupt end on Wednesday.

According to The Wrap, data collected by MediaRadar reveals that advertisers spent $513 million on CNN TV and digital outlets in the first four months of 2022, just before Licht assumed the CEO position. However, from January to April 2023, ad spending dropped to $313 million, indicating a 39% year-over-year decrease in revenue.

The decline in April was particularly sharp, with ad revenue falling from $153 million in April 2022 to $80 million in April 2023. MediaRadar CEO Todd Krizelman commented on the downward trend, stating, “Our data analysis suggests a significant downward trend in CNN’s ad revenue during Chris Licht’s tenure, reflecting substantial declines both in total spend and in the number of advertisers.”

The number of advertisers on CNN decreased by 23% during the first four months of 2023 compared to the same period in 2022, going from 2,700 companies to 2,100. Only 29% of the advertisers from 2022 returned in 2023.

Prominent companies such as Thumbtack, Apple, Cisco, and Disney reduced their ad spending by 90% year over year, and fewer companies made substantial investments in advertising with CNN. In the first four months of 2022, 68 companies spent $2 million or more on CNN properties, whereas in the same period of 2023, only 17 companies reached that spending level.

Warner Bros. Discovery, the publicly traded parent company of CNN, does not disclose revenue specifically for CNN. In its first-quarter earnings report, it did revealed a 15% year-over-year decline in advertising revenue for its Networks segment, which includes CNN, citing “audience declines” as a contributing factor.

CNN has not yet provided a comment on the MediaRadar figures. MediaRadar utilizes data sampled from national TV broadcasts and digital campaigns to compile its estimates.

The NAB Joint Board of Directors has appointed Perry Sook, Chairman and CEO of Nexstar Media Group, as Chairman of the board. He assumes the position previously held by David Santrella, CEO of Salem Media Group, whose term has come to an end.

During the recent elections at the NAB Board of Directors meeting held on June 6-7, several other key positions were filled. Collin Jones, Executive Vice President of Strategy and Development at Cumulus Media, was elected as the Radio Board Chair.

Kevin Perry, President and COO of Perry Publishing and Broadcasting Company, was elected as the Radio Board First Vice Chair. John Zimmer, President and Owner of Zimmer Radio of Mid-Missouri, was elected as the Radio Board Second Vice Chair. Chris Ornelas, Executive Vice President and General Counsel of Beasley Media Group, was elected as the representative of the major radio group on the NAB Board’s Executive Committee.

Pat LaPlatney, President and Co-CEO of Gray Television Inc., was elected as the NAB Television Board Chair. Ramona Alexander, Vice President and General Manager of WDBD-TV, was elected as the TV Board First Vice Chair.

Lynn Beall, Executive Vice President and Chief Operating Officer of Media Operations for TEGNA, was elected as the TV Board Second Vice Chair. Chris Ripley, President and CEO of Sinclair Broadcast Group, was elected as the TV Board Third Vice Chair.

Kristopher Jones, Executive Vice President and Head of Government Relations at Fox Corp., was appointed to the designated TV network seat on the NAB Board’s Executive Committee.

Salem Media Group has entered into a deal with EpochTV, the streaming division of The Epoch Times, to distribute a feature-length documentary produced by the digital company.

Leaving California: The Untold Story will be available for rental or purchase on the SalemNOW platform. The deal marks the first time EpochTV has distributed original content on a platform other than its own.

“It’s a privilege to partner with The Epoch Times to offer their incredible film, Leaving California, on SalemNOW,” said SalemNOW GM Robert Ellis.

The documentary looks at the “unprecedented mass exodus” happening in California and showcases the statements made by people who have left the state.

“SalemNOW’s rapid growth and success make them an ideal partner for us as we look to increase awareness about the critical issues we address in our film,” Leaving California host, writer, and producer Siyamak Khorrami said.

“These issues are impacting communities beyond California and we all need to be informed.”