CNN+'s demise is hardly a one-off occurrence: It is almost as if this is a turning point for corporate media. CNN+ is set to shut down just one month after its launch, and this ought to be a wake up call for all streaming platforms.
Following a slew of reports about low subscriber counts, Discovery has apparently decided to abandon CNN+, CNN's ill-fated streaming platform, one month after it launched.
Given the recent turmoil in the streaming industry, it appears that Discovery and Warner Brothers have chose to cut their losses.
As per Variety as well as the New York Times, the service will be discontinued on April 30.
Chris Licht, the incoming CEO of CNN, sent a memo to staffers Thursday morning about “an important meeting” to be held at noon, and is at that time expected to inform staffer about the decision, these people said. Licht has already told Andrew Morse, the CNN executive vice president who oversees the newly-launched streaming-video outlet, of the decision,...