CNN aims for record profits

American news network CNN is on track to deliver its most profitable set of results in its 30-year history, despite a 42 per cent slump in ratings since the start of the year. The broadcaster, part of the Time Warner group, is expected to say operating profits came to $500m for the year ending December 2009 on the back of soaring digital revenues and international advertising. CNN has been squeezed by Fox News on its right and the liberal MSNBC network on its left.