CNN plans to launch paid streaming service, cut 100 jobs ...Middle East

NEW YORK: CNN, which has struggled amid the decline of the US cable broadcasting industry, plans to launch a new paid streaming service and to cut about 100 jobs, the company’s CEO said Wednesday.The network, which once set the pace in cable news, aims for its new $1 billion-plus subscription news product to launch before the end of 2024, Chief Executive Mark Thompson said in a memo to staff.“We are creating best-in-class, subscriber-first products that provide need-to-know news, analysis and context in compelling formats and experiences,“ Thompson said.“This starts with our first subscription product launching before the end of 2024.”CNN had unveiled a short-lived for-pay streaming service

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