Word: cnn
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...more than he could chew. They were convinced that American TV viewers, accustomed to half an hour of headline skimming on the networks each evening, would never tune in a 24-hour news channel in sufficient numbers to support Turner's expensive satellite system. Barely a year later, CNN has corralled a potential audience of 8 million, won applause for its live coverage of breaking news, and is on the verge of turning a profit...
...other broadcasting companies are getting on the bandwagon. Last week ABC Video Enterprises and Westinghouse Broadcasting's Group W Communications announced joint plans for two all-news cable channels next year. Satellite NewsChannels will be offered free to cable companies (CNN charges cable operators 15? to 20? per subscriber) and will feature both a short and long look at events...
...Recalls CNN President Reese Schonfeld, 49: "When we started up and I saw that it could work, there were tears in my eyes." If Schonfeld could have predicted his balance sheet, those might have been tears of sorrow. Starting with a scant potential audience of 1.7 million and a paper-thin $25 million annual budget,* CNN soon faced operating costs close to $3 million per month during the heat of an election summer. News Director George Watson, the former head of ABC's Washington bureau, quit in frustration after two months of broadcasting; others followed. Most threatening...
Primarily a headline service, CNN can be quick and resourceful when the news is hot, tends to flag when it is not, and is often plagued by technical glitches. Nevertheless, network hot dogs who used to call it "Chicken Noodle News" are be ginning to feel the heat: Turner is currently suing the Reagan Administration and the three networks for denying his news teams full participation in pool coverage. ABC learned to its horror last month that it may not be able to transmit live news coverage from London of Prince Charles' July wedding. Reason: CNN, along with...
Besides its regular news team, CNN brings in special contributors, ranging from Barry Goldwater and Phyllis Schlafly to Hamilton Jordan and Bella Abzug. Its burgeoning audience seems willing to bear with the rough edges, and positively seems to relish the down-home feeling of such featured staffers as Weatherman Flip Spiceland, House Veterinarian Herb Tanzer and Mike the auto mechanic. Best of all, claims Turner, the network should be profitable by year...