"On top of all this, it’s been a long time since CNN was considered an objective outlet."
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| Tony Branco-BPR |
The American Spectator | USA News and Politics "CNN’s attempt to join an already crowded market for streaming services just went up in flames only three weeks after launching. Unbeknownst to most, this was inevitable. Newsrooms looking to expand their empires should take note: In today’s media environment, money can’t buy you success.
"Incoming CNN chief executive Chris Licht announced Thursday afternoon Warner Bros. Discovery is shutting down CNN+ at the end of April. The shutdown comes on the heels of speculation over whether CNN’s new parent company would cut back or cease operations of the brand new service — speculations that emerged even before the merger between the two industry leaders was complete.
"The $300 million investment to bring segments from prominent pundits like Chris Wallace and Audie Cornish on board was an extreme miscalculation. Wallace, who left Fox News after hosting the highly rated Fox News Sunday for nearly two decades, told viewers in December 2021 he was “ready for a new adventure.” Yet, Wallace — and all those involved in CNN+ — were knowingly entering uncharted territory. CNN had barely marketed the concept of a premium digital streaming platform before it pulled the trigger.
"CNN+’s unproven business model might be considered the most spectacular failure seen in digitized media. Former CNN president Jeff Zucker may have had a vision for CNN+’s target audience, but its initial investment was far too much too soon. With only 150,000 subscribers after three weeks, their results failed to match the network’s long-term vision to turn net positive.
"This catastrophic miscalculation is just the latest episode marking CNN’s decline. The media giant has been riddled by endless scandals that have sabotaged its already ravaged credibility." . . .
