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John Rothmann: A colossal failure: CNN to shutter $100 million streaming service
Is anything worth paying for on Cable TV?
CNN’s new parent company abruptly pulled the plug on the network’s $100 million venture into online streaming — a spectacular reversal that stunned employees barely three weeks after the launch of the service, known as CNN Plus.
After months of planning and hiring and a huge promotional campaign, CNN Plus drew modest subscription sign-ups and faced uncertain long-term prospects. But insiders and analysts viewed its demise as a result of the brutal calculus of a new corporate owner rather than a comment on its viability.
Notably, the service was conceived and developed under CNN’s former owner, WarnerMedia, but was launched just days before Discovery Inc.’s long-gestating acquisition of the company was finalized. Discovery executives are now in charge of the merged company, called Warner Bros. Discovery, and made the decision to end CNN Plus at the end of the month.
See omnystudio.com/listener for privacy information.
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By The John Rothmann ShowIs anything worth paying for on Cable TV?
CNN’s new parent company abruptly pulled the plug on the network’s $100 million venture into online streaming — a spectacular reversal that stunned employees barely three weeks after the launch of the service, known as CNN Plus.
After months of planning and hiring and a huge promotional campaign, CNN Plus drew modest subscription sign-ups and faced uncertain long-term prospects. But insiders and analysts viewed its demise as a result of the brutal calculus of a new corporate owner rather than a comment on its viability.
Notably, the service was conceived and developed under CNN’s former owner, WarnerMedia, but was launched just days before Discovery Inc.’s long-gestating acquisition of the company was finalized. Discovery executives are now in charge of the merged company, called Warner Bros. Discovery, and made the decision to end CNN Plus at the end of the month.
See omnystudio.com/listener for privacy information.