CNN+, the brand new streaming service from CNN, will be shutting down on 30 April, just one month after it launched in the US. According to the company, existing customers will receive prorated refunds of subscription fees, which cost US$5.99 (~RM26) per month or US$59.99 (~RM252) per year.
CNN reportedly poured as much as US$300 million (~RM1.29 billion) into the streaming service, poaching big-name anchors such as Chris Wallace from Fox News, Kasie Hunt from MSNBC, and Audie Cornish from NPR for various programmes, as well as celebrity lineups including actress Eva Longoria.
The news comes just days after streaming giant Netflix reported a loss in subscribers for the first time in over a decade which plummeted its stock value. But even before that, CNN+ apparently only had 10,000 daily viewers two weeks into its launch, which is an abysmal viewership number for the amount of money sunk into the platform.
While some CNN+ staffers might be moved to CNN or other Warner Bros. Discovery companies, hundreds might lose their jobs and receive severance. The hired talent are expected to remain with the company as they’ve already signed contracts, with Kasie Hunt already making appearances on CNN’s main channel.