COMMUNICATIONS / MEDIA / GLOBAL BUSINESS
The streaming service, which was touted as one of the most significant developments in CNN history, will shut down on April 30, just a month after its launch. Executives had touted the app as the biggest launch for 42 years ago, when Ted Turner founded CNN in 1980.
The news spread like wildfire. A disagreement between WarnerMedia and Discovery. The decision was made by new management after CNN’s former parent company, WarnerMedia, merged with Discovery to form Warner Bros. Discovery.
David Zaslav, CEO of Warner Bros. Discovery, said he wants to house all of the company’s brands in a single streaming service. Some CNN+ programming may continue that service.
Hundreds of CNN+ employees were notified of the decision at a meeting Thursday afternoon.
Earlier in the day, CNN’s new CEO, Chris Licht, met with Andrew Morse, executive vice president who oversees CNN+, and his top executives.
Morse, who defended the streaming service, will leave the company after a transition period.
The decision to shut down CNN+ just weeks after its launch marked a shocking end to the streaming news service. Executives had touted the app as the biggest launch since 42 years ago, when Ted Turner founded CNN in 1980.
The network had invested hundreds of millions of dollars in the new streaming app and had wooed top talent from other networks, including NBC’s Kasie Hunt and Fox News’ Chris Wallace.
The streaming service offered hours of daily live programming and weekly shows.
This means that the current administration wants all news resources included in a single Direct to Consumer (DTC) offering.
“In a complex streaming market, consumers want simplicity and a comprehensive service that provides a better experience and more value than standalone 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 broadcast space and CNN, one of the world’s leading reputational assets, will play a significant role there,” Discovery’s Head of Streaming JB Perrette said in a statement.