• October 2, 2022

They Layoffs Have Begun At CNN And People Are Panicking…

CNN, the left-wing news network, is reportedly considering major programming and personality shake-up in the wake of falling ratings, with none of its regular shows averaging more than a million viewers per episode in October.

The mainstream media’s ratings have plummeted since Trump left office and President Biden took over. And CNN is one of the worst-off networks, a network that severely damaged its credibility during the Trump years.

And just weeks after it launched, Warner Bros. Discovery Inc. (WBD), the network’s newly formed parent company, announced on Thursday, that they will shutter the CNN+ streaming service.

The New York Times reported that incoming network President Chris Licht called an all-hands meeting among CNN+ staffers for noon to discuss the decision.

Licht said that at the end of April, the media company would pull the plug on the service, just one month after it launched.

“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,” Licht said in a statement to Variety.

The network launched with a $300 million budget and spent between $100 and $200 million on advertising.

J.B. Perrette, head of Discovery’s streaming services says CNN employees would get “first dibs” on some 100 open positions. Also, Licht stated that departing employees would be paid for at least six months.

“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,” CEO Chris Licht said in an internal memo.

However, a source told TVnews that approximately 23 employees at CNN’s Hudson Yards offices were told today that their jobs were being eliminated, but it’s unclear how many people are affected in total.

As Warner Bros. Discovery shut down the highly-publicized subscription-based streaming news service CNN+ just less than a month, Warner Bros. Discovery CEO David Zaslav has pledged to find $3 billion in cost savings, raising the likelihood of significant layoffs as the companies combine, TVnews reports say.

Meredith Artley, CNN Digital’s editor-in-chief and senior vice president, announced her departure last week. She is the second high-ranking CNN digital executive to leave since the WarnerMedia/Discovery merger was completed in April. Andrew Morse, Artley’s former boss, and the executive in charge of the now-defunct CNN+ left earlier this month, the report added.

Sources: Conservativebrief, Adweek, Nypost

 

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