"$1 Billion Investment Promised, but US CNN+ Ends Just One Month After Launch"

[Image source=AP Yonhap News]

[Asia Economy New York=Special Correspondent Josel Gina] CNN+, the news streaming service launched by US broadcaster CNN, will be terminated after just one month.

On the 21st (local time), according to economic media CNBC and others, Chris Licht, the new CEO and president of CNN, announced in an internal memo that "it was a difficult decision, but the right choice for CNN's long-term success," and stated that the CNN+ service will end on the 30th.

This decision comes about three weeks after CNN+ was launched on the 29th of last month. The service period will be only one month by the end of this month.

Previously, CNN invested hundreds of millions of dollars to make the news streaming service successful, recruiting famous anchors such as Chris Wallace from Fox News and Audie Cornish from NPR, and launched extensive advertising campaigns. However, the daily viewership of the launched CNN+ was so low that it did not even reach 10,000 viewers.

Originally, CNN planned to invest more than $1 billion in CNN+ over four years, but ultimately decided to terminate the service.

CNBC, citing insiders, reported that with the completion of the merger between CNN's parent company WarnerMedia and Discovery earlier this month, Discovery's side was negative about the large investment in CNN+. The media outlet reported that the Warner Bros. Discovery management analyzed CNN's streaming strategy over the past few weeks, and that Licht, who will take office in May, proposed the closure of CNN+, which was accepted.

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