- Warner Bros.Discovery Inc (NASDAQ:WBD) is shutting down CNN's news streaming service CNN+ on April 30.
- The new management (formed after CNN's former parent company, WarnerMedia, merged with Discovery) decided to shut down the service following its March 29 launch.
- WBD CEO David Zaslav looks to house all of the company's brands under one streaming service. Some CNN+ programming may eventually live on through that service.
- Also Read: Analysts Give Thumbs Up To This Newly Formed Media Giant; Compare It To Disney
- Andrew Morse, the EVP overseeing CNN+, will depart the company after a transition period.
- Recently, WBD suspended every external marketing spending for CNN+ and laid off CNN's CFO Brad Ferrer after it failed to attract viewers.
- Zaslav was annoyed by the decision of Jason Kilar, the former CEO of WarnerMedia when it was owned by AT&T, to launch CNN+ just weeks before Discovery looked to take over operations, Variety reports.
- Price Action: WBD shares traded lower by 8.39% at $21.08 on the last check Thursday.
