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CNN to cut 100 jobs in major restructuring as viewership falls in streaming era

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CNN is set to undergo significant restructuring, which includes the reduction of approximately 100 jobs, as reported in an internal memo obtained by Reuters on Wednesday. The aim is to streamline news operations and bolster its digital footprint in response to evolving market trends.

Mark Thompson, CEO of CNN Worldwide and a seasoned executive from The New York Times and BBC, outlined the strategic overhaul in the memo. Since assuming leadership in October of the previous year, Thompson has been focused on revitalizing CNN amidst declining TV viewership and the shift towards digital consumption.

“We are building a billion dollar+ digital business of the future,” Thompson affirmed in the memo, emphasizing the network’s commitment to expanding its digital offerings and investing in video operations.

Central to CNN’s strategy is the launch of new subscription-based products. By the end of this year, CNN plans to introduce a standalone subscription service for CNN.com, marking the first of several planned subscription offerings. These will include specialized content focusing on lifestyle and feature articles, catering to diverse audience interests and preferences.

Moreover, CNN will establish the TV Future Lab, dedicated to producing content for the Max streaming platform and optimizing the delivery of CNN’s television content across its digital channels. The integration with Max, Warner Bros Discovery’s streaming service, underscores CNN’s push to capitalize on digital platforms for broader audience reach.

Thompson also unveiled operational changes aimed at enhancing editorial efficiency. A centralized planning and pitching process will be implemented to streamline workflow across CNN’s news divisions. Additionally, the introduction of a “story manager” role aims to oversee all aspects of content production, from inception to publication or broadcast.

The internal memo indicated that Thompson plans to discuss these strategic initiatives further in a town hall meeting with staff members scheduled for Wednesday. This transparent approach aims to align the team with CNN’s vision for growth and adaptation in a rapidly evolving media landscape.

As traditional television viewership declines and digital consumption continues to rise, CNN’s restructuring reflects a proactive response to industry shifts. By consolidating resources, enhancing digital capabilities, and launching new subscription services, CNN aims not only to sustain but to expand its market presence in the digital era.

The initiatives outlined by Thompson underscore CNN’s commitment to innovation and adaptation. By investing in digital transformation and reimagining its content delivery strategies, CNN positions itself to thrive in an increasingly competitive media environment. The integration of TV and digital news teams, coupled with strategic investments in video and subscription-based services, forms a comprehensive strategy aimed at securing CNN’s relevance and leadership in the global news landscape.

In conclusion, CNN’s restructuring efforts, as detailed in the internal memo, represent a strategic pivot towards digital growth and operational efficiency. By aligning its resources with evolving audience behaviors and preferences, CNN aims to strengthen its position as a premier news provider in the digital age.

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