US-based news outlet CNN is set to lay off about 100 staffers in a major overhaul and consolidation of operations, digital push, and purported debut into digital subscriptions within this year, Reuters reported.
As per a memo reportedly sent to the staff by chief Mark Thompson, the media company will merge its news-gathering and digital news teams, invest in video operations, besides rolling out pay-walled content. At present, CNN has about 3,500 employees.
Thompson, who took charge as CEO last October, said that under the “ambitious” digital strategy, CNN will see a shift to more video content and it will also create subscription-ready products for news, analysis and context in new formats.
It will reportedly provide more monetisation opportunities, including sponsorships, new advertising and direct-to-consumer subscriptions, as per a report in Al Jazeera. “CNN will also be pushing more into artificial intelligence,” the report quoted Thompson. The former New York Times and BBC executive is credited to have helped in NYT’s digital transition.
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