CNN streaming service to shut a month after launch

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CNN’s new owner says it will close the US-based news channel’s streaming service just a month after it launched.

Warner Bros Discovery (WBD) says it will issue refunds to subscribers after the service is shut down on 30 April.

The head of CNN+ has resigned and hundreds more workers could be at risk of losing their jobs.

This week, $50bn (£38.4bn) was wiped off the stock market value of streaming giant Netflix after it revealed a sharp fall in subscribers.

CNN+ was launched on 29 March in an attempt to bring in revenues from news streaming subscriptions.

The company spent as much as $300m on developing the service but it got off to a slow start, attracting just 10,000 viewers a day, according to reports.

Earlier this month, WBD became CNN’s parent company with the completion of the merger of media company Discovery and telecom giant AT&T.

Read more via BBC

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