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CNN’s New Streaming Service Is Shutting Down Weeks After Rocky Launch

CNN’s New Streaming Service Is Shutting Down Weeks After Rocky Launch

CNN+, the subscription streaming service from cable news giant CNN, is shutting down less than one month after its official launch, according to sources familiar with the situation.

The move comes following a merger between WarnerMedia, CNN’s parent company, and Discovery to form Warner Bros. Discovery. The launch of the streamer also came amid internal turmoil that involved CNN president Jeff Zucker’s resignation and the ouster of other Warner executives.

In a memo sent to staffers on Thursday morning and reviewed by The Daily Beast, incoming network CEO Chris Licht informed staffers that there would be an “important” all-hands meeting at noon. It is during this meeting, sources told The Daily Beast, that it would be announced that the streaming service would be done within the next week.

Variety and CNN also reported on the upcoming shuttering on Thursday. According to CNN’s report, the last day for the much-hyped streamer will be April 30.

CNN did not immediately respond to a request for comment.

At least one CNN+ staffer, who wished to remain anonymous, told The Daily Beast they were made aware of the news from the breaking news reports. “Yeah, we haven’t been told a word. Welp,” the employees said.

During the all-hands meeting, Licht told employees that “CNN+ is ceasing” as it “doesn’t fit into the larger streaming strategy” of the company.

“I want to look you in the eye to tell you I’m so proud of the blood, sweat, and tears that went into building a platform in the amount of time you did,” Licht told employees, according to a source within the meeting.

Additionally, Licht confirmed during the meeting that executive vice president Andrew Morse, who had overseen CNN+, is out at the company. The move comes on the heels of Warner Bros. Discovery replacing CNN CFO Brad Ferrer with Discovery CFO Neil Chugani.

“This just felt a little doomed and mismanaged from the start,” said a CNN on-air personality, who added that “dozens” of their friends will now have to scramble for jobs at the network.

“They’re basically making us fight for jobs,” another CNN employee said.

“As a network, we have been through so much over the course of just a few months. The hits just keep on coming,” the CNN personality noted. “And it’s becoming a very stressful and difficult place to work.”

Management also not-so-subtly placed blame on former CNN boss Jeff Zucker, telling gathered staffers that prior leadership pursued the streaming platform despite it not necessarily being a good strategy.

This is a breaking story…

Read Full Story At: The Daily Beast.

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