Ann: 2013 Annual Report , page-2

Sometimes I can't help but wonder whether shareholders in CNN will be anything other than six foot under by the time this company turns a profit, and a sustainable profit at that.

With 2 billion shares already on issue and the likelihood of many more being issued just to allow the company to continue operating into the foreseeable future I see an ARW-style 1:100 reconstruction on the horizon.

Still, I am not fussed given the size of the markets CNN operates in. There are few bigger growth markets going forward and I will be happy to put this stock in the bottom draw and come back in a few years' time to see what progress, if any, has been made.