CNN+il streaming service which was advertised as one of the most significant developments in the history of CNN, will close on April 30th, just a month after its launch. Let’s find out why and all the details together.
The CCN + streaming service will close at the end of the month
CNN + customers “will receive prorated refunds of subscription fees,” the company said.
The decision was made by the new management after CNN’s former parent company, WarnerMediamerged with Discovery to form Warner Bros. Discovery earlier this month.
The vision of the previous management team for CNN + goes against the plan del CEO di Warner Bros. Discovery, David Zaslavto host all trademarks of the company under one streaming service. Some CNN + programs may eventually live through that service. Other programs will move to the main television network of CNN. Discovery’s head of streaming, JB Perrette, said:
In a complex streaming market, consumers want simplicity and an all-in service that provides a better experience and more value than stand-alone offerings, and, for the company, a more sustainable business model to drive our future investments. in great journalism and storytelling. We have very exciting opportunities ahead of us in the streaming space and CNN, one of the world’s leading reputational assets, will play an important role.
Perrette and CNN’s new CEO Chris Licht briefed employees of the decision at a meeting on Thursday afternoon. Licht said without compromise to employees that it was a “shitty situation”.
Hundreds of CNN + employees they could lose their jobs. Licht said in an internal note that “all CNN + employees will continue to be paid and receive benefits for the next 90 days to explore opportunities at CNN, CNN Digital and elsewhere in the Warner Bros. Discovery family.”
Employees who are not absorbed elsewhere in the company will receive a minimum of six months of liquidationhe added.
The executive vice president responsible for CNN + and all CNN digital activities, Andrew Morsewill leave the company after a transition period. In a note to employees, Morse described his own nine years on CNN as an “incredible ride” and said:
As the company enters an exciting period of change, it is clear that the new leadership’s vision for the future is different from what we have had. This is fine. It’s part of the change.
The CNN had paid hundreds of millions of dollars in the new streaming application and attracted top talent from other networks, including Kasie Hunt to NBC e Chris Wallace from Fox News. The streaming service featured hours of daily live programming and weekly shows. Now, however, that programming will definitely stop at the end of the month.