Post by robeiae on Apr 22, 2022 6:51:51 GMT -5
variety.com/2022/tv/news/cnn-plus-shut-down-warner-bros-discovery-1235237913/
I think they were all fooling themselves. This venture was a long term loser, it was always gonna cost more than it was ever gonna make. Smart choice to shut it down.
Warner Bros. Discovery is shutting down CNN+ as of April 30, marking one of the company’s first significant maneuvers since completing the merger of WarnerMedia and Discovery less than two weeks ago.
[snip]
“This decision is in line with WBD’s broader direct-to-consumer strategy,” said Chris Licht, the incoming CEO of CNN, in a statement. “In a complex streaming market, consumers want simplicity and an all-in service, which provides a better experience and more value than stand-alone offerings.” Zaslav has been open in the recent past about his desire to combine all of the company’s streaming-video assets, which also include Discovery+ and HBO Max, under a single umbrella.
[snip]
CNN plowed millions into the venture, raiding news executives and producers from places like ABC News and NBC News, and signing notables like food writer Alison Roman and business professor Scott Galloway. Current staffers like Anderson Cooper and Don Lemon were assigned, respectively, to lead a show on parenting and a talk show with a live audience. A show led by Jemele Hill and Cari Champion had yet to launch. CNN had also made some deals with talent for CNN+ that it had to unveil, according to a person familiar with the situation.
Inside CNN, executives were pleased with early progress of the new venture, which two people indicated had nabbed 100,000 to 150,000 subscribers in its first few weeks online. Some executives believed the service was on its way toward meeting first-year goals. They were encouraged by response to new programs like “5 Things,” an early-morning news roundup, and “Reliable Sources Daily,” an extension of CNN’s long-running media-affairs program. Earlier this week, Chris Wallace, who jumped to CNN from Fox News Channel for the streaming venture, landed an interview with White House Press Secretary Jen Psaki on his new CNN+ interview show.
[snip]
“This decision is in line with WBD’s broader direct-to-consumer strategy,” said Chris Licht, the incoming CEO of CNN, in a statement. “In a complex streaming market, consumers want simplicity and an all-in service, which provides a better experience and more value than stand-alone offerings.” Zaslav has been open in the recent past about his desire to combine all of the company’s streaming-video assets, which also include Discovery+ and HBO Max, under a single umbrella.
[snip]
CNN plowed millions into the venture, raiding news executives and producers from places like ABC News and NBC News, and signing notables like food writer Alison Roman and business professor Scott Galloway. Current staffers like Anderson Cooper and Don Lemon were assigned, respectively, to lead a show on parenting and a talk show with a live audience. A show led by Jemele Hill and Cari Champion had yet to launch. CNN had also made some deals with talent for CNN+ that it had to unveil, according to a person familiar with the situation.
Inside CNN, executives were pleased with early progress of the new venture, which two people indicated had nabbed 100,000 to 150,000 subscribers in its first few weeks online. Some executives believed the service was on its way toward meeting first-year goals. They were encouraged by response to new programs like “5 Things,” an early-morning news roundup, and “Reliable Sources Daily,” an extension of CNN’s long-running media-affairs program. Earlier this week, Chris Wallace, who jumped to CNN from Fox News Channel for the streaming venture, landed an interview with White House Press Secretary Jen Psaki on his new CNN+ interview show.
I think they were all fooling themselves. This venture was a long term loser, it was always gonna cost more than it was ever gonna make. Smart choice to shut it down.
