Money

Why is CNN closing its streaming news service?

Published

2 years ago

April 22, 2022

CNN’s much-hyped streaming news service known is shutting down on April 30, just one month after it launched

CNN says the vision for the streaming service goes against the vision of CEO David Zaslav and his vision to unite the whole company under one brand.

The decision was made by the network’s new management, following CNN’s parent company, WarnerMedia merging with Discovery to form Warner Bros. Discovery earlier in 2022.

Discovery’s boss says the streaming market is complex and “consumers want simplicity and an all-in service which provides a better experience and more value than stand-alone offerings”.

He says the network still has “exciting opportunities ahead in the streaming space”.

Incoming CNN CEO Chris Licht spoke to employees frankly, noting it is a “uniquely shitty situation.”

Hundreds of CNN+ staffers could face redundancy.

In a memo, the CEO says “all CNN+ employees will continue to be paid and receive benefits for the next 90 days to explore opportunities at CNN, CNN Digital and elsewhere”.

Those who don’t find a new role will receive a minimum of six months severance.

Related Topics:Business cnn cnn+Politics trending

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William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

Money

Why the meme-stock frenzy is unlikely to repeat

Published

5 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

5 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

6 days ago

May 13, 2024

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending