Here’s Why CNN Retracted The Russia Smear Story: They Faced A $100 Million Lawsuit

CNN’s recent decision to retract a fake news story about Russia was motivated by fear of a very expensive lawsuit. You didn’t think they did it out of a sense of integrity or devotion to quality journalism, did you?

The New York Post has the story:

CNN faced $100M lawsuit over botched Russia story

The specter of a $100 million libel suit scared CNN into retracting a poorly reported story that slimed an ally of President Trump’s — and forcing out the staffers responsible for it, The Post has learned.

The cable network’s coverage of Trump transition team member Anthony Scaramucci came amid federal scrutiny of corporate parent Time Warner’s pending purchase by AT&T — and the widespread belief among media execs that CNN President Jeff Zucker can’t survive a merger.

CNN immediately caved after Scaramucci, a financier and frequent network guest, cried foul and threatened to take legal action, sources said Tuesday.

Scaramucci got an unusual public apology but still hired a top Manhattan lawyer to put further pressure on CNN and “look after [his] interests in this matter,” one source said.

Sources also said the three journalists responsible for the retracted story — reporter Tom Frank, editor Eric Lichtblau and Lex Haris, who headed the CNN Investigates unit — were urged to resign.

“They called them in and said they’d pay out their contracts, but they should leave immediately,” one source said.

We are witnessing the self destruction of a once respected news source.

It’s amazing to see this happening in real time.

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