Good day all. I saw this story while I was toiling away at my Real World Job. It seems that WarnerMedia has decided to cut their losses and has pulled the plug on their streaming service, CNN+

WarnerMedia inherited the Streaming service when they spun off CNN from AT&T. I am given to understand that they weren’t happy that CNN launched the streaming service before the official takeover. They were right to be concerned. CNN+ failed spectacularly, with no more then about 10,000 paying customers. Now the plug has been pulled. Here are some details from Fox News:

Warner Bros. Discovery has pulled the plug on CNN+ after the network’s recently launched streaming service failed to resonate with viewers. It will cease operations on April 30.

“As we become Warner Bros. Discovery, CNN will be strongest as part of WBD’s streaming strategy which envisions news as an important part of a compelling broader offering along with sports, entertainment, and nonfiction content,” CNN Worldwide CEO Chris Licht said in a statement.

Nonfiction content? Well now, I think the layoff notices for about 99% of the on air personalities are being prepared as we speak.

“We have therefore made the decision to cease operations of CNN+ and focus our investment on CNN’s core news-gathering operations and in further building CNN Digital,” Licht continued. “This is not a decision about quality; we appreciate all of the work, ambition and creativity that went into building CNN+, an organization with terrific talent and compelling programming. But our customers and CNN will be best served with a simpler streaming choice.”

Basically, they took a look at what this disaster cost, what the potential was for them to turn around and increase the number of paid subscribers, had a stiff drink and cut their losses quickly.

On March 28, CNN threw a swanky launch party for CNN+ on the eve of its highly publicized premiere. Executives, on-air personalities and reporters who are friendly to CNN attended the soiree at an event space located on the 101st floor of Hudson Yards, overlooking Manhattan. WarnerMedia and Discovery completed the merger on April 8.

I suspect that the CNN execs spent more on that party then they would have made in paid subscriptions to CNN+ in a year.

The failed service was the brainchild of former CNN president Jeff Zucker and former WarnerMedia CEO Jason Kilar, who are no longer with the company.

There is a reason they aren’t with the company, and it has to do with the epic failure caused by Zucker. CNN’s ratings are a disaster of their own.

The previous management team reportedly spent $100 million on development costs had roughly 500 employees working on the service. The Associated Press reported that “some CNN+ content will wind up on other company networks” and the streaming service’s employees “will get opportunities to apply for jobs elsewhere inside Warner Bros. Discovery.”

So much for Chris Wallace’s brilliant idea to jump from Fox to CNN. I wonder how he will like his new jobs as a janitor? He won’t be the only one shown the door. I suspect that Brian Stelter, aka Mr. Potatohead will also be out on the street before to long. I believe the CFO for CNN was also invited to seek other opportunities elsewhere. Without question the housecleaning at CNN is going to be epic. As for CNN+?