It has just begun and is closing. The CNN + platform will close three weeks after its release

chassis streaming North American news chain CNN’s CNN + will close on April 30 after it was launched brilliantly at the end of March, Warner Bros. Discovery, which owns the service, announced on Thursday, April 21st. An on-demand news content service, similar to platforms like Netflix or HBO, came to an abrupt end and marked the beginning of a new leadership in the North American audiovisual world.

To explain the reason for this failure, it is necessary to clarify the trajectory of the two companies and the power struggle between them. Discovery, a media group that owns channels such as Discovery Channel and Food Network, began a merger process in 2021 with Warner Media, which is owned by Telecom North American AT&T.

In 2018, AT&T acquired a company called TimeWarner for $ 85 billion (approximately € 78 billion at current exchange rates) to try to secure attractive content for its cable offering and integrate the business vertically.

However, the cable lost ground streaming, and AT&T decided to initiate a merger process between Warner Media and Discovery Inc. in 2021, moving away from the content segment to focus on its core business: telecommunications. WarnerMedia owns brands and services such as HBO and CNN itself.

CNN + was designed by former Warner Media CEO Jeff Zucker as a way to bring the cable news channel into line streamingAccording to the “New York Times,” which tells the story.

However, Discovery, which, under the terms of the merger, would take control of the new entity led by David Zaslav, did not believe in the feasibility of the nonlinear news channel project, but lifted its nose at the planned large investment. billion dollars at the age of four.

Still, and as the merger approached, WarnerMedia’s management, aware of the other party’s disagreement, continued the project. However, Zucker had left the company after an undisclosed love affair, and his successor, Jason Kilar, continued to build CNN +: he hired several people, turned content production green, and hosted a luxurious release party.

WarnerMedia and Discovery merged on April 8, when the latter invested $ 43 billion (€ 40 billion) in operations. A new unit, called Warner Bros. Discovery, would be led by Zaslav himself.

On the 11th, the meetings began to disintegrate CNN +, which was estimated before an audience that reached only 10,000 people, according to sources heard by the New York Times. Until Tuesday, Netflix presented a catastrophic outlook for the next three months, setting the tone for the final blow to the project, a cancellation announcement made two days later.

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