Well, because of their decline in ratings their advertising revenues went into the tank. Then to add insult to injury, they've lost a lot of very expensive lawsuits such as the one to Nick Sandman (high school student with MAGA hat) along with the CNN+ debacle. I believe in Nick's case he got over $100 million. I love it!
Now they've got more troubles as Trump has filed a lawsuit for $475 million for defamation, liable, slander, etc., and he could very well win because the evidence is bountiful, and on record, in thousands of hours of CNN footage. They knowingly lied about Trump and fraudulently impacted the election.
I don't know how much money CNN has left but it could be a situation where CNN has to turn over the reins to Trump. Wouldn't that be a kick in the head! 😎