CNN chief executive Mark Thompson has unveiled plans to pivot the news network into a billion dollar digital business.
In a memo to staff, the former BBC director-general said the announcement was a “key milestone in the transformation of CNN”. However, it is one that comes at a price with 100 staff being laid off, though they will be eligible for severance packages.
“Turning a great news organisation towards the future is not a one-day affair. It happens in stages and over time,” said Thompson in a memo sent to staff. “Today’s announcements do not answer every question or seek to solve every challenge we face. However, they do represent a significant step forward and I hope you will read about them in that spirit.”
The CNN newsroom, which has effectively been split into US television, international television and digital, will now be merged into one.
CNN will also further move towards a “follow the sun” model, with an expanded role for the Hong Kong bureau and greater prominence for bureaus in London and Los Angeles.
Thompson’s plan to build a digital subscription business comes a little more than a year after the launch, and hasty closure, of the news streaming service CNN+ after the merer of WarnerMedia into Warner Bros Discovery. The new CNN Max can now be found as part of the revamped Max streaming service that has brought together HBO Max and Discovery+ in a number of markets.
Thompson said CNN’s new digital offer will feature “need-to-know news, analysis and context in compelling new formats and experiences.” He also revealed plans to adopt artificial intelligence tools, it would he said reclaim the ‘pioneering spirit’ of the network’s founder Ted Turner.
In anticipated the first products will launch towards the end of the year.
