The plans follow years of leadership turmoil at the cable news network.
CNN CEO Mark Thompson revealed to staffers Wednesday a drastic new plan to push the cable news network into the digital age — and signaled that job cuts are coming.
Now at CNN, Thompson faces a company struggling as the cable news business – and its revenue – steadily fades. While CNN and parent company Warner Bros Discovery remain profitable, the cable TV business model is becoming defunct as Netflix and other popular streaming services have reinvented the television industry.
But Thompson said he plans to create a subscription that will generate more than $1 billion for the company.
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