Perry Sook: Sure. Next steps for us, obviously, Elizabeth Vargas joins the network in April. And by the end of April, we will have a program schedule that will be news 24/5. So we’ll be a 24-hour news network Monday through Friday by the end of April, and that will include the daytime expansion, the addition of the Hill, the addition of Elizabeth Vargas reports show at 6 o’clock Eastern Monday through Friday. And at that point, obviously, we’re getting higher cost per thousands in news programming than we did in off-network programming. We’ve been able to substantially grow our distribution revenue because of news content and being one of five networks rather than one of a 100 general entertainment networks. If you follow the decline in general network — general entertainment network ratings, we couldn’t have made the pivot at a better time.
And so yes, our profitability has been enhanced, and we’re investing our syndicated programming expense back into journalism. That’s what’s driving the buildout. And then obviously, once April comes and we’re 24/5. We now set our sights on 24/7 and how we feel the 18 hours on Saturday and Sunday that are currently entertainment programming, we have to fill that with news. And so that will be the big lift, and we’ll have that piece done by the end of 2024 and then we’ll be a 24/7 cable news network. As I said in my remarks, January was the highest cumulative audience for the network since its inception. So we continue to grow the numbers are off of a low base, but we’re the only cable news network that is growing, and we continue to grow. We grew double-digits in the fourth quarter.
And again, I tell people, I don’t care what the ratings are three months from now. I care what they are three years from now, just do better, continue to grow every day and don’t get caught up in a minute-to-minute and all of the minutia, but just put out good product and we’ll continue to grow it. Our promotional campaign will kick off in earnest in the month of April and between our stations and our paid media. It’s approximately $100 million investment through the balance of the year that will attempt to raise our profile, raise our awareness level and continue to expose what I feel is the top-tier level of talent that we have on the network. I’m very proud of the folks we have on the air and the job that they do, and we look to add to that as we continue to fill out these other hours and other dayparts.
Jim Goss: All right. Thanks for all the color. I appreciate it.
Operator: Our next question comes from Barton Crockett with Rosenblatt Securities.
Barton Crockett: Hi, thanks for taking the question. There are two topics I just wanted to ask a little bit about the — first on this national feed. I just want to understand kind of one logistical thing. Are they able to see the local football game from the NFL on CBS? Or is it just like a national game on that national feed? Is there any leverage around the ability to see local games that if somehow rights constructed by the agreement with you or not? Or is it really just a news as you only kind of look all?
Perry Sook: When you refer to Bay, who are you talking about? You are talking about the local station or the network because…
Barton Crockett: Yes, yes. I’m talking about like if I was a fubo subscriber in Portland where you have the coin station, can I see the Seahawks on Sunday on CBS or not? If that’s a local game? Or am I giving some national game like the ?
