CNN will shut down its new streaming service on April 30, one month after launching it, the US network announced Thursday (local time).
"CNN+ was billed as one of the most significant developments in the television channel's history but will close on April 30," CNN reported.
This comes after CNN's former parent company, WarnerMedia, merged with Discovery to form Warner Bros Discovery earlier this month, according to CNN Business.
However, the other programming will shift to CNN's main television network. "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's streaming boss JB Perrette said in a statement, as per CNN.
"We have very exciting opportunities ahead in the streaming space and CNN, one of the world's premier reputational assets, will play an important role there," Perrette added.
With this, hundreds of CNN+ staffers may lose their jobs.
Warner Bros Discovery has billions in debt, much of which is a result of the deal to combine the company, and executives are under pressure to find USD 3 billion in savings that Wall Street is expecting from them, the US network reported.
( With inputs from ANI )
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