CNN to launch paid streaming service

By Reuters

Jul 12, 2024 12:08 am

NEW YORK — CNN, which has struggled amid the decline of the US cable broadcasting industry, plans to launch a new paid streaming service and to cut about 100 jobs, the company's chief executive officer (CEO) said on Wednesday.

The network, which once set the pace in cable news, aims for its new $1-billion-plus subscription news product to launch before the end of 2024, Chief Executive Mark Thompson said in a memo to staff.

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