CNN boss plans to merge newsgathering ops, explores digital subscription model - WSJ
Reuters
Published Jan 17, 2024 12:13PM ET
(Reuters) - CNN's new CEO Mark Thompson plans to combine all newsgathering operations of the news network into one unit that would serve its television, streaming and digital platforms, the Wall Street Journal reported on Wednesday.
Thompson is also looking to monetize CNN's offerings, potentially through subscriptions, he said in an interview with the Journal. He intends to take advantage of the vertical video format that is popular with younger consumers, but did not announce any concrete plans for new products.
"I'm not even sure that subscription is the right pathway for CNN," Thompson was quoted as saying by the newspaper.
CNN declined to comment in response to a Reuters request.
The WSJ also reported that Alex MacCallum, who was most recently the Washington Post's revenue chief, would join CNN in March as its executive vice president of digital products and services.
MacCallum will oversee efforts to develop products and subscriptions, the Journal added.
CNN-parent Warner Bros Discovery (NASDAQ:WBD) appointed Thompson to the CEO role last year, tasking the former New York Times and BBC chief with reviving the news network beset with sagging ratings and falling profits.
Thompson replaced Chris Licht at CNN, who had tried to boost viewership by attracting more Republican viewers.
Warner Bros Discovery in April 2022 shuttered its CNN+ streaming service less than a month after its highly touted launch, while the executive who helped design its strategy also departed the company.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.