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CNN+ fails, shut down after only one month

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According to multiple reports, the CNN+ streaming service, owned by Warner Bros. Discovery, is shutting down just one month after its launch. CNN’s incoming CEO Chris Licht made the decision to terminate the streaming service.

Executive Vice President Andrew Morse, who oversees CNN+, will leave CNN following a transition period. According to sources, Licht told staffers that CNN+ had “an incredibly successful launch,” and that “it is not your fault that you had the rug pulled out from underneath you,” CNN’s article on the closure stated. Licht also described the events as a “uniquely sh**ty situation.”

“In a complex streaming market, consumers want simplicity and an all-in service which provides a better experience and more value than stand-alone offerings, and, for the company, a more sustainable business model to drive our future investments in great journalism and storytelling,” Discovery streaming head J. B. Perrette said in a statement on Thursday.

National Review reports:

The closure comes after multiple reports suggested the launch did not fulfill the network’s expectations. Two weeks after the launch, fewer than 10,000 people were using CNN+, people familiar with the matter told CNBClast week. The streaming service costs $5.99 a month or $59.99 per year.

CNN executives assisted by the McKinsey consulting firm expected the service to draw 2 million subscribers in its first year, and another 15–18 million subscribers after four years, Axioms reported. CNN had already invested $300 million in CNN+ and was planning to invest around $1 billion over four years, according to Axios.

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3 Comments

3 Comments

  1. jimmy rooks

    April 22, 2022 at 6:46 am

    CNN must not have a large amount of cash reserves!(I wonder why!)

  2. Profx

    April 24, 2022 at 10:13 am

    The next question is when will CNN shut down?
    Parent company CNN numbers are not much better than the disastrous numbers of CNN+.
    As an aside…
    Once again AT&T made a poor business decision in purchasing Time Warner/Warner Media that included CNN.
    Randall Stephenson of SBC/AT&T was an inept leader of a company that made all the right decisions under the previous CEO Ed Whitacre.

  3. Stephane

    April 24, 2022 at 1:55 pm

    Many, many years ago, when Baron Bic defeated Ted Turner in a race for the America’s Cup, Turner decided to stop showing the French stock trading and the value of the French money. The week after the race!
    To be that thin skinned showed me that the Communist News Network was not one to be watched. EVER.
    I NEVER watched since then. Even in the airport, I would bring a book and read and never even listen.
    And today, we see that there is really NOTHING OF VALUE in ANY of the programmings available, with any of the show casters. NOT ONE OF THEM IS WORTHY OF ANY PRAISE for their STUPIDITY, and partisanship!

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‘Egregious deficiencies’ at Twitter unearthed by whistleblower claims

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In a bombshell accusation, Twitter’s former head of cybersecurity “has accused the company of a number of egregious security flaws and oversights” reports NBC News. The information is according to a whistleblower complaint filed with the U.S. government this year.

Peiter “Mudge” Zatko, a veteran cybersecurity expert widely respected in the industry, filed the complaint with the Securities and Exchange Commission, Federal Trade Commission and the Department of Justice in July. Whistleblower Aid, a nonprofit that provides legal assistance to whistleblowers, confirmed the complaint’s authenticity, the NBC report adds.

In January, Twitter CEO Parag Agrawal fired Zatko and another top security official in a shakeup of that department.

NBC News reports:

The complaint, first published by The Washington Post and CNN, makes a wide range of damning claims about Twitter, including that members of the company’s board of directors misled the public and government agencies about the company’s security. The former security chief alleged in the complaint that he was told to withhold a major security report from Twitter’s board and to write misleading security documents.

In response to the whistleblower complaint, a Twitter spokesperson called Zatko’s account “a false narrative” and said Zatko was fired because he displayed “ineffective leadership and poor performance.”  It also said his allegations about Twitter’s security was “riddled with inconsistencies and inaccuracies and lacks important context.”

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