New York magazine’s The Big Fives, which include CNN, NBC, ABC, and CBS, are all dead, according to The Wall Street Journal.
The New York Times reports that CNN’s stock is trading at around $20,000 a share.
All four networks are now owned by AT&T.
The Times writes that “in its search for a new leader, AT&t is looking for someone who can make its network more profitable, attract more viewers and build more networks, while also reducing costs.”
Other networks that are no longer in business include the BBC, the Fox Business Network, and NBCUniversal.
In a statement, CBS said that “the CBS brand is in the hands of a group of independent management team, led by executive producer John Lott.
Our goal is to build a great CBS brand for the future.”
NBCUniversal said that it is “reviewing our business strategy and will have more to share at a later date.”
Bloomberg News writes that CBS “has been a major beneficiary of the financial crisis and is in need of a turnaround.”
In the article, the Wall Street Times writes, “AT&