Romenesko

New York Observer
CNN has racked up double-digit profit growth for the fifth straight year, and it's reinvesting its bounty back into its news coverage and whatever else seems appealing, writes Felix Gillette. Recent splurges have included building a new international hub in Abu Dhabi, launching a wire service that will eventually compete with the AP; and kicking off a weekend comedy-news show hosted by comedian D. L. Hughley.