NEW YORK: US-based media giant CNN is terminating approximately 100 workers and plans to debut its first digital subscriptions before the end of the year as the news network “leans into reshaping its business,” according to its Chief Executive Mark Thompson.
In a lengthy internal memo sent to staff, Thompson informed that the news organisation was cutting “just 100 jobs” out of a total workforce of approximately 3,500.
According to Thompson, the Warner Bros. Discovery-owned unit will create subscription-ready products that offer news, analysis and context in new formats. “CNN’s digital strategy must be ambitious enough to deliver the audiences and the revenue we need to maintain our unique journalistic firepower and succeed as a business,” Thompson said.
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“CNN is one of the world’s most successful multi-platform global news brands,” Thompson said. “But we can’t thrive as a company unless we find new sources of revenue to offset the structural pressures on legacy income streams,” he added.
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