Left-wing news network CNN is undergoing a major shake-up of programing and personalities amid its tanking ratings. Meanwhile, CNN’s highly-publicized streaming service, CNN+, which was launched with an initial investment of US$300 million was shut down within weeks of its launch date as it failed in getting expected number of subscribers
A report from TVNewser reveals that Warner Bros. Discovery has begun laying off staffers less than a month after pulling the plug on CNN’s failed streaming service.
“It is unclear how many people are affected in total, but approximately 23 staffers in CNN’s Hudson Yards offices were told today that their positions were being eliminated, according to a source. Another source confirmed that layoffs had occurred, but noted that the company is still trying to place those impacted CNN+ staffers in other positions around CNN and Warner Bros. Discovery,” TVNewser reported.
CNN Worldwide chairman and CEO Chris Licht said in an internal memo 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”.
“Staffers who aren’t absorbed in the new Warner Bros. Discovery will receive a minimum of six months of severance, Licht told CNN staffers at a separate town hall”, TVNewser reported.
“Last month, Warner Bros. Discovery shut down the highly-publicized subscription-based streaming news service CNN+, less than a month after it launched. That decision came less than two weeks after WarnerMedia and Discovery formally merged. Warner Bros. Discovery CEO David Zaslav has pledged to find US$3 billion in cost savings, raising the likelihood of significant layoffs as the companies combine”, the report added.
It was reported earlier this year that, “Discovery chief David Zaslav – who is widely expected to assume stewardship of CNN after its merger with WarnerMedia is complete – has kept his public comments on the failing news network close [to] the vest”.
“But according to Jon Nicosia – former Mediaite and IJR managing editor (and former breaking news editor at the DC Examiner) – CNN is going to revert to a 100 percent news channel, and a “good number” of CNN’s “talent/staff” will be fired as part of a major shakeup” the report added.
In addition to that bad news, Chris Wallace’s now-defunct CNN+ show is reportedly headed to HBO Max.
“Chris Wallace will get a second chance for his interview show after CNN+ was pulled off the air, with the series reportedly moving to HBO
Max. Wallace’s show Who’s Talking To Chris Wallace will move to the HBO streaming service, where new owners Warner Bros. Discovery are focusing their cord-cutting investments”, the Daily Mail reported.
“Meanwhile, the fate of other talent recruited for CNN+ remains up in the air, including food-media star Roman, former NPR host Audie Cornish, ex-NBC News host Kasie Hunt, and sports commentators Jemele Hill and Rex Chapman. Monday marked the first official workday for new CNN boss Chris Licht, who suggested he will move the network away from opinion-led shows that have dominated over the last few years”, the report added.
After investing US$300 million in the failed streaming service, CNN+ shut down within weeks of its launch date.
CNN+ is facing extreme cuts and reviews by incoming corporate parent Warner Bros. Discovery after it was a total disaster.
The new owners are reportedly not happy with the Chris Wallace-led streaming service, suspended all external marketing spending for CNN+, and laid off CNN’s longtime chief financial officer.
The new owners at Discovery have replaced CNN CFO Brad Ferrer with Neil Chugani, Discovery’s current CFO for streaming and international.
Sources say corporate parent Warner Bros. Discovery executives are planning to dramatically shift the network’s primetime shows back to hard news and away from partisan politics.
The new bosses are aiming to spend money in order to get the cable news side back to straight news reporting.
They are essentially abandoning the streaming service, which leaves Wallace holding the bag and potentially without a show to host.
CNN executives initially wanted to have 2 million subscribers for the streaming service in the first year, but only managed to get around 150,000 subscribers.
Please follow Blitz on Google News channel