CNN+ To Shut Down One Month After Launch

Read more on this subject: MEDIA (MainStreamMedia – aka MSM)
News Story Source:, by ZeroHedge
According to reports from Variety and the New York Times, the service will cease operation 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, these people said. Morse could not be reached for immediate comment.

As we reported earlier this month, CNN+'s dramatic failure to launch comes after it lured talent such as Chris Wallace from Fox News and Kasie Hunt from NBC News. There had been reports about 'big cuts' that were in store for the streaming service due to the low adoption rate. The news giant was initially planning to invest around $1 billion in the service over the next four years.

As the NYT explained, CNN+&#3
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