CNN+ shuts after less than a month
April 22, 2022
The new owner of CNN, Warner Bros Discovery, is shutting down CNN+ on April 28th. It is less than a month since its launch.
“This decision is in line with WBD’s broader direct-to-consumer strategy,” said Chris Licht, the incoming CEO of CNN. “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.”
The decision abruptly ends an ambitious venture that reports have speculated always rankled David Zaslav, the new CEO of Warner Bros Discovery. Zaslav was annoyed by the decision of Jason Kilar, the former CEO of WarnerMedia when it was owned by AT&T, to launch CNN+ just weeks before Discovery was set to take over operations, reports Variety.
“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, and, for the company, a more sustainable business model to drive our future investments in great journalism and storytelling,” Discovery’s streaming boss J.B. Perrette said in a statement.
“We have very exciting opportunities ahead in the streaming space and CNN, one of the world’s premier reputational assets, will play an important role there,” Perrette added.
CNN+ customers, of which there are estimated to be less than 150,000, “will receive prorated refunds of subscription fees,” the company said.