CNN has refused to deny a report that the company is bracing for layoffs as soon as May due to subpar subscription signups for its brand new CNN+ streaming service, reports The Daily Mail.
Fox Business News' Charles Gasparino reported on Wednesday that CNN+, a $120 million venture that launched Tuesday, is already failing and may not survive on its own for much longer.
'CNN + employees bracing for layoffs possibly as soon as May amid projections of lackluster sales of new streaming channel; CNN employees say new streaming channel could be merged into larger Discovery+ as early as May unless subscriptions pick up,' Gasparino wrote on Twitter.
CNN officials rebuked statements that the launch of their streaming service was unsuccessful, but did not provide information oh how many subscribers CNN+ currently has nor deny that possible layoffs were in store in the near future.
CNN+, a $5.99-per-month streaming service, represents the media outlets step into the world of streaming, similar to how Fox launched its own Fox Nation streaming service in 2018.
CNN says that its new streaming service will feature live daily news programming, original series, true crime shows and food and travel docuseries.
Breaking: @CNNplus employees bracing for layoffs possibly as soon as May amid projections of lackluster sales of new streaming channel; CNN employees say new streaming channel could be merged into larger @discoveryplus as early as May unless subscriptions pick up 130 @FoxBusiness
— Charles Gasparino (@CGasparino) March 30, 2022
The start of CNN+ coincides with veteran television executive Chris Licht stepping up to replace CEO Jeff Zucker, with Licht hinting that he will scrap the network's opinion-heavy content and return to the station's roots as a hard-hitting news source.
The change in leadership, merger with Discovery, and launch of CNN+ could together mark the start of a new era for the Atlanta-headquartered network, which first went live in 1980.
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