REUTERS: WarnerMedia, which is owned by AT&T, stated Monday (July 19) that it will launch a new subscription streaming video news service in the first quarter of 2022, as part of a proposed new firm unveiled by the telecom and media giants in May. CNN+, which will be independent from CNN, CNN International, CNN en Espaol, and news and true crime channel HLN, is aimed at “CNN superfans, news addicts, and fans of great non-fiction programming,” according to a press statement from the company.
CNN did not provide pricing information.
CNN rivals like Fox News have also looked to subscription news services aimed at superfans for fresh revenue.
It’s unclear whether CNN President Jeff Zucker, who said in February that he will depart the network at the end of 2021, will continue on and help launch CNN+. Zucker and David Zaslav, the new CEO of Discovery, will head the company. Former colleagues and pals work for Warner Bros., the proposed new company. CNN+ will start with 8-12 hours of live, daily programming, including both library content and new original series and films created specifically for the service. The CNN app will have access to the streaming service, as well as CNN and related cable channel TV feeds for pay TV users.
In May, AT&T Inc and Discovery announced that they will combine WarnerMedia’s unscripted series from lifestyle TV networks such as HGTV and TLC with Discovery’s unscripted shows from lifestyle TV networks such as HGTV and TLC.
Cost synergies of $3 billion are planned at Warner Bros. Discovery, with no plans to sell any assets. The transaction is expected to finalize in mid-2022, subject shareholder and regulatory clearance. Zaslav underlined his commitment to the news business in a May conference call with reporters, saying that CNN would be part of a news portfolio that included Discovery’s news company in Poland and other local news assets across the world. Zaslav assisted in the establishment of the CNBC business news network at NBC, which is now a staple of Wall Street coverage./n
