LAST UPDATE: 19:42
Warner Bros. Discovery announced that it was going to shut down CNN + on April 30, just a few weeks after its launch.
CNN + offers a combination of live, on-demand and interactive content streaming.
“The decision is not about quality. We appreciate all the work, ambition and creativity that went into creating CNN +, an organization with exceptional talent and competitive content,” said Chris Licht, President and CEO of CNN Worldwide. his announcement. “But our customers and CNN will be better served by a simpler streaming option,” he added.
The company also announced that CNN + chief Andrew Morse is leaving Warner Bros. Discovery after a transitional period. Alex MacCallum, currently CNN + ‘s general manager and product manager, will lead CNN Digital after Morse’s departure.
It is noted that WarnerMedia launched the standalone news streaming service about a month ago, on March 29, while after about two weeks of operation it had managed to gather less than 10,000 active users daily. The company announced that subscribers will receive back, proportionally, the subscription fees.
CNN has already invested hundreds of millions of dollars in new talent and CNN + content. Some of the content will be streamed on the HBO Max platform, and some series may be streamed live on CNN.com, according to a source quoted by CNBC.
Warner Bros. Discovery, whose share fell 7% in Thursday’s trading, did not immediately respond to a request from Reuters for comment.
Source: Capital
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