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CNN To Launch New Streaming Service As It Sets Sights On Digital Future; About 200 Jobs To Be Cut In Restructuring
CNN is cutting about 200 jobs as it focuses on a digital future, the network announced today, while its CEO Mark Thompson unveiled plans for a new subscription streaming service. In a memo to staffers, Thompson wrote, “Our objective is a simple one: to shift CNN’s gravity towards the platforms and products where the audience […]
The network also plans to launch a new subscription lifestyle product, as Thompson has previously signaled that CNN would put a greater emphasis on areas outside of political news. In a memo to staffers, Thompson said, “Yes, there are job-losses – around 6% of the current CNN workforce will be impacted – but we don’t expect total headcount to fall much this year, if at all. It’s early days but we’ve already established that there’s immense demand for it not just in America but across much of the world.” He also signaled that they have been working with distributors — i.e. cable and satellite operators — on how to bring the service to the market.
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