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CNN plans to launch paid streaming service, cut 100 jobs

CNN, fighting the decline of the U.S. cable TV trade, plans to launch a brand new paid streaming service and reduce about 100 jobs, the corporate’s CEO stated Wednesday.

The community, which as soon as set the usual for cable information, plans to launch its new $1 billion-plus information subscription product earlier than the top of 2024, CEO Mark Thompson stated in a memo to staff.

“We create best-in-class, subscriber-first merchandise that ship the information, evaluation and context individuals have to know in compelling codecs and experiences,” Thompson stated.

“This begins with the launch of our first subscription product earlier than the top of 2024.”

CNN launched a short-lived paid streaming service in 2022, however rapidly pulled the plug amid the merger between CNN mum or dad firm WarnerMedia and Discovery.

A few 12 months later, Chris Licht was changed as CEO by Thompson, previously of the BBC and the New York Occasions, after criticism of the community’s editorial course.

In accordance with Thompson, CNN’s new plan goals to have an preliminary subscription product that solely “need-to-know” broadcasters want, adopted by paid choices that solely “need to use” broadcasters will supply, targeted on way of life journalism.

CNN additionally plans to merge three separate newsrooms for U.S. newsgathering, worldwide newsgathering and world digital information into one group.

In accordance with Thompson, the corporate expects this may end result within the lack of about 100 of its 3,500 staff worldwide.

CNN’s rankings in america have lately lagged behind rivals Fox Information and MSNBC. CNN hosted the primary U.S. presidential debate between Joe Biden and Donald Trump on June 27.


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