Due to the terrible launch of CNN+ big cuts are expected at the streaming service.
Investment and projections for CNN+ are expected to be cut dramatically in response to a low adoption rate, two sources tell Axios.
By the numbers: The news giant was initially planning to invest around $1 billion in the service over the next four years.
Hundreds of millions of dollars are expected to be cut from that original investment total.
To date, around $300 million has been spent on the subscription service, which includes a sizable marketing investment.
The new company’s leadership team still has yet to decide the ultimate fate of CNN+. CNN’s new boss, Chris Licht, will start May 1
Chris Wallace who left Fox News for CNN+ is not happy.
Wallace is “having daily meltdowns” and is threatening to walk if he doesn’t get a TV show.
He also has said he wants Chris Cuomo’s timeslot.
SOURCE: Chris Wallace is "having daily breakdowns" over the "miserable launch" of @CNNplus. Wants a "CNN show or is threatening to walk" they go on. "He is having staffers count how many times a day his promo is playing"
— Jon Nicosia (@NewsPolitics) April 12, 2022
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